08:59 AM EDT, 10/17/2025 (MT Newswires) -- Oil prices edged up from a five-month low early Friday following three days of losses that came on warnings of an over-supplied market.

West Texas Intermediate crude oil for November delivery was last seen up US$0.16 to $57.62 per barrel, while December Brent oil was up $0.10 to $61.18.

The commodity's price fell to the lowest since May 5 Thursday after the International Energy Agency warned that global inventories are rising due to higher supply from OPEC+ and Western Hemisphere producers, while demand slows amid the ongoing trade tensions between China and the United States.

"Oil is heading for a third weekly decline with Brent slumping towards USD60 as investors focus on oversupply and the fallout from renewed US-China trade tensions," Saxo Bank noted.

Rising U.S. inventories are also adding to the pressure on prices, as the Energy Information Agency Thursday reported U.S. oil stock rose by 3.5-million barrels last week, well ahead of consensus expectations for a rise of around 0.3-million barrels as U.S production rose 13.64 million barrels.