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Brent is on track for a 2 percent weekly fall while WTI crude is set to decline 2.9 percent for the week
Bullion has surged over $700 this year, setting multiple record highs and reaching $3,500.05 on Tuesday
The visit marked the 40th anniversary of diplomatic relations established on September 26, 1985
Trump will address Ukraine and Gaza conflicts during his visit to Saudi Arabia, a key U.S. ally
Trump criticized Fed Chair Powell, warning the U.S. economy could slow without immediate rate cuts
Deal will target investments in technology, healthcare, minerals, and other sectors of mutual interest
U.S. West Texas Intermediate crude fell by 16 cents, also down 0.3 percent, to $61.17
The May hike is the next increment of the plan to gradually unwind the most recent output cut of 2.2 million bpd
Traders raised oil's risk premium, anticipating supply disruptions from Trump's actions and policies
Trump also plans to visit Qatar and the UAE during this trip
Tariffs that increase vehicle prices may suppress auto sales and, consequently, the demand for oil products
American Petroleum Institute data showed that U.S. crude inventories fell by 4.6 million barrels last week
