NEW YORK, May 7 (Xinhua) -- Oil prices climbed on Friday as traders weighed risks from both the demand and the supply sides.

The West Texas Intermediate (WTI) for June delivery added 19 cents to settle at 64.90 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for July delivery increased 19 cents to close at 68.28 dollars a barrel on the London ICE Futures Exchange.

"There are certainly grounds for concern, such as rising OPEC+ production," and "potential risks to demand if the pandemic persists for much longer," Eugen Weinberg, energy analyst at Commerzbank Research, said in a note on Friday.

"Nonetheless, the strong recovery of demand in the second half of the year, coupled with continued good production discipline on the part of OPEC+, is likely to tighten supply considerably and lend support to oil prices," he said.

Meanwhile, analysts at Commerzbank Research cautioned that "the upside potential on the oil market is far from unlimited, and that a price correction in the second quarter is probable."

For the week, the U.S. crude benchmark rose 2.1 percent, while Brent crude advanced 2.3 percent, based on front-month contracts. Enditem

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