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GAS OIL Crude oil prices ended the week lower, pressured by expectations of another OPEC+ production hike and lingering uncertainty over US tariffs. The optimism seen mid-week, spurred by a U.S. court’s ruling overturning tariffs and declining U.S. crude inventories, was short-lived, as a federal appeals court later suspended the decision, reviving trade concerns. Geopolitical tensions, notably increased Russian assaults on Ukraine and stalled nuclear negotiations between the U.S. and Iran, also contributed to market turbulence. Finally, Brent declined by 1.4% for the week, closing at $63.90 a barrel. June 2, 2025 50658095110Q3 25Q4 25Q1 26Win25Sum26Win26p/thermChange in Gas Prices23.05.2530.05.256162636465666723.05.2526.05.2527.05.2528.05.2529.05.2530.05.25$/bblBrentBritish near-term gas prices tumbled over the past week amid increased flows from Norway and milder weather. Heightened market concerns about global economic growth following a U.S. federal appeals court's pause on a ruling challenging Trump's tariffs, added to trade-related uncertainty. Along the forward curve, the gas price for Win-25 delivery fell by about 6% for the week, ending at 91.21 p/therm amid economic uncertainty driven by the ongoing confusion over US tariffs.