Overview

• Brent December settled at $64.53, up 0.66%, and WTI November closed at $60.88, up 0.66%, though weekly losses reached about 6.78% for Brent and 7.36% for WTI.
• OPEC+ is scheduled to decide Sunday on potential supply changes, with international reports highlighting an option near a 500,000 barrels per day increase.
• Futures had fallen for four straight sessions earlier in the week on speculation of another OPEC+ production hike.
• Goldman Sachs maintained year-end targets at $56 for Brent and $52 for WTI despite expectations for more supply.
• Supportive risk factors included President Donald Trump’s Sunday deadline for Hamas on a U.S.-backed proposal, G7 threats of tougher measures on Russian oil, a fire at a Chevron refinery near Los Angeles, and a drop in active U.S. rigs.