Overview

• Brent traded near $66.96 a barrel and WTI around $62.88 in early Monday dealings, steady after a slight weekly drop.
• The European Commission said its next sanctions package will target refineries, oil traders and petrochemical companies in third countries that purchase Russian oil.
• Ukraine reported weekend strikes that damaged a trunk pipeline and two refineries inside Russia, extending its campaign against energy infrastructure.
• Poland deployed its and allied aircraft after Russian strikes near its border, Estonia accused Russian jets of an airspace violation, and the U.N. Security Council will discuss the incidents on Monday.
• Iraq’s SOMO said exports averaged 3.38 million barrels per day in August and are expected at 3.4–3.45 million bpd in September as OPEC+ unwinds voluntary cuts.