Crude Futures on Track for Weekly Loss Amid Oil Oversupply Fears

Group 1 - Oil prices are experiencing a rise in early trading but are projected to incur a weekly loss of over 1% due to concerns about excess supply and weaker crude demand in the U.S. [1] - Brent crude increased by 1% to $64.04 per barrel, while WTI rose by 1.1% to $60.08 per barrel after a volatile trading session [2] - Geopolitical disruptions, including Ukrainian attacks on Russian refineries and renewed U.S. sanctions on Rosneft and Lukoil, have introduced some upside risks, yet the overall market sentiment remains bearish as supply growth continues to surpass disruption risks [2]