India, May 30 -- Oil prices traded higher on Friday but were set for a second weekly loss amid oversupply concerns.
Benchmark Brent crude futures jumped 0.7 percent to $63.78 a barrel in European trade while WTI crude futures were up 0.6 percent at $61.29.
Both benchmarks remain on track for a weekly loss of more than 1 percent due to uncertainty over U.S. President Donald Trump's tariffs and their likely impact on global growth and fuel demand.
Trump's sweeping tariffs are now facing legal uncertainties, complicating the administration's broader economic agenda.
Appeals are under way after a federal court struck his sweeping tariffs, ruling he misused emergency powers to bypass Congress.
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