Oil near 2-month high amid global supply concerns

Oil prices eased slightly in early Asian trade on Friday, after surging to a two-month high in the previous session as investors focused on signs of tight global supply.

Brent crude futures fell 11 cents to $117.29 a barrel by 0:08 GMT. WTI crude futures for July delivery fell 19 cents to $113.90 a barrel. Prices have gained about 50 percent so far this year.

OPEC+ is set to stick to last year's oil production deal at its June 2 meeting and raise July output targets by 432,000 barrels per day, six OPEC+ sources told Reuters, rebuffing Western calls for a faster increase to lower surging prices. read more