Crude oil prices finished down 1% on Friday, a day ahead of an OPEC+ meeting where ministers had planned a decision about increasing oil output for June. As a result, crude oil had its biggest weekly losses since the end of March.
West Texas Intermediate crude finished down 95 cents or 1.6% to close at $58.29 a barrel on the New York Mercantile Exchange. For the week, WTI lost nearly 7.7%.
Brent crude, the global benchmark, dropped 84 cents or 1.4% and finished the day on at $61.29 a barrel. It also fell more than 8% for the week.
But natural gas prices had a strong day on Friday, jumping 18 cents for a 5.12% gain to close at $3.66.
For Oklahoma energy stocks, it was a day of positive territory as most recorded gains for the day. LSB Industries had the largest jump of nearly 7%. However, another firm Empire Petroleum Corp. fell more than 7% to close the day.