Oil prices dropped last Friday amid speculation that OPEC+ might raise oil supply beyond expectations for July. Brent crude ended the day at $63.90 per barrel, down 23 cents, while US WTI crude closed at $60.79, just 6 cents lower.
For the week, Brent was down 1.4% and WTI dropped 0.85%. However, both benchmarks ended May in positive territory with WTI up by 4.41% and Brent by 1.24%.
The decline in price followed a Reuters report suggesting that OPEC+ was considering increasing July supply beyond the earlier agreed 411,000 barrels per day (bpd), initially scheduled for May and June. This came amid reports of a growing global oil surplus, exerting downward pressure on prices.
Meanwhile, in the United States, oil firms continued to reduce drilling activities. According to Baker Hughes, the number of active rigs declined for the fifth consecutive week in a row, a trend not observed since late 2021. The total rig count is now 37 fewer than this same period last year. Oil rigs fell by 4 to 461, their lowest since November 2021, while gas rigs increased by 1 to 99.
Days | Brent | WTI |
Friday – 30/06/2025 | $63.90 | $60.79 |
Monday – 02/06/2025 | $64.50 | $62.70 |
Tuesday – 03/06/2025 | $65.10 | $63.10 |
By Monday, however, sentiment shifted. After OPEC+ confirmed it would maintain the planned 411,000 bpd increase for July, market confidence improved. WTI gained over 3% to reach about $62.70, and Brent gained more than 2%, reaching $64.50. The reaffirmation was perceived by the markets as a sign of discipline that OPEC+ wasn’t rushing to flood the market, helping to reassure investors who were worried about excess supply.
Part of this move was interpreted as an effort to encourage production discipline among certain member countries like Iraq and Kazakhstan who had gone over their output limits while, enabling leading producers like Saudi Arabia and Russia to regain market share.
Several global events also added pressure to oil price movements:
By Tuesday, oil prices continued to rise. WTI reached approximately $63.10, and Brent climbed to $65.10, as investors responded to the unfolding geopolitical and environmental developments.
However, midweek trading saw a more cautious tone return. Both WTI and Brent edged slightly, hovering around $63 and $65, respectively, due to mixed signals from economic data and uncertainty surrounding OPEC+’s next steps. A report from the OECD warned that global trade tensions, particularly over tariffs, could hinder economic growth
Nonetheless, oil prices remained relatively supported by a significant draw in US crude inventories, which fell by 3.3 million barrels last week.
In summary, the oil markets continued to navigate a complex mix of factors: OPEC+ supply strategies, geopolitical tensions, environmental disruptions, currency dynamics, and macroeconomic developments. This evolving landscape underscores the importance of coordinated market strategies and proactive risk management.
Again, the cryptocurrency market experienced notable developments over the past week, marked by significant price movements, regulatory advancements, and increased institutional engagement across global markets.
Bitcoin (BTC) demonstrated resilience, trading at approximately $105,709, reflecting a 0.72% weekly gain, while Ethereum (ETH) also saw gains, reaching around $2,612.13. The total cryptocurrency market capitalization stood at $3.43 trillion, with a daily trading volume of $101 billion.
Date | Open ($) | High ($) | Low ($) | Close ($) | Volume ($) |
June 3, 2025 | 105,845.60 | 106,758.40 | 104,886.90 | 105,751.60 | 51.77B |
June 2, 2025 | 105,635.20 | 105,930.70 | 103,729.70 | 105,845.60 | 46.44B |
June 1, 2025 | 104,598.00 | 105,867.50 | 103,768.60 | 105,635.20 | 33.03B |
May 31, 2025 | 103,981.90 | 104,888.40 | 103,091.30 | 104,598.00 | 35.80B |
May 30, 2025 | 105,598.80 | 106,314.90 | 103,693.90 | 103,981.30 | 71.98B |
May 29, 2025 | 107,759.10 | 108,896.70 | 105,399.90 | 105,600.00 | 70.02B |
May 28, 2025 | 108,905.70 | 109,238.30 | 106,804.90 | 107,786.70 | 51.84B |
Date | Open ($) | High ($) | Low ($) | Close ($) | Volume ($) |
June 3, 2025 | 2,603.71 | 2,651.52 | 2,589.54 | 2,611.88 | 560.14M |
June 2, 2025 | 2,537.46 | 2,614.71 | 2,476.48 | 2,606.81 | 513.95M |
June 1, 2025 | 2,526.39 | 2,547.03 | 2,471.06 | 2,537.51 | 363.69M |
May 31, 2025 | 2,534.29 | 2,550.02 | 2,486.16 | 2,528.09 | 427.56M |
May 30, 2025 | 2,631.31 | 2,648.56 | 2,509.60 | 2,531.29 | 843.03M |
May 29, 2025 | 2,681.21 | 2,784.23 | 2,622.01 | 2,632.50 | 906.21M |
May 28, 2025 | 2,660.60 | 2,688.44 | 2,609.25 | 2,681.20 | 632.98M |
Publicly traded companies are increasingly adopting the Digital Asset Treasury (DAT) model, converting significant portions of their balance sheets into cryptocurrencies like Bitcoin and Solana. MicroStrategy remains a leader in this space, holding Bitcoin valued at approximately $60 billion. Meanwhile, family offices are ramping up interest in digital assets, with 39% already investing or exploring digital assets. Asset managers such as BlackRock recommend a 2% allocation to crypto, while some advisors suggest up to 5% as a balanced approach.
On the regulatory front:
There has been an increase in global reports of physical extortion cases targeting cryptocurrency holders. Notably, a high-profile incident in Manhattan involving an Italian crypto millionaire was reported in May 2025. This underscores the need for robust digital security measures, such as cold wallets and discreet asset management. Authorities are urging investors to adopt stricter security measures, such as using cold wallets and avoiding public disclosure of holdings.
On the adoption front:
The past week has been pivotal for the cryptocurrency industry, with significant price movements, regulatory shifts, and rising institutional interest. As the market continues to mature, stakeholders are encouraged to remain vigilant, informed, and proactive in navigating the evolving digital asset landscape.
Quotes
Are They Aware?
The fears, trauma, and anxiety were painted on their faces. Will these peace talks hold?
There is an immense sense of uncertainty. Will an agreement be reached this time?
An ongoing crisis is breeding amongst the children and the vulnerable.
Will they ever recover? Mental health issues are on the rise.
Post-Traumatic Stress Disorder (PTSD), depression, chronic stress, to mention a few.
Will these challenges be addressed?
Will those affected get the support they desperately need?
Peace talks promise resolution, but they also carry the weight of fear, especially when past efforts have ended in setbacks.
Going forward, awareness must be a central priority. Without it, we risk overlooking the quietest victims.
