Oil adds to week's sharp loss as rollover of OPEC output cuts may meet resistance

Oil prices experienced their sharpest weekly decline in three months, influenced by concerns over weakening demand and potential discord within OPEC, particularly after the UAE announced an increase in production capacity. Speculation is rife that OPEC may struggle to maintain unity in extending output cuts beyond June. Despite these challenges, U.S. natural gas prices saw a significant increase, marking their first weekly gain in four weeks, driven by reduced production and higher demand in the power sector.