Overview

• Brent and WTI edged higher after three sessions of losses, lifting from 16-week lows to roughly $65.50 and $61.92 a barrel in early Thursday trading.
• G7 finance ministers pledged tougher enforcement targeting buyers and facilitators of Russian crude, supporting prices at key technical levels.
• The Wall Street Journal reported the U.S. will provide Ukraine with intelligence for long-range strikes on Russian energy infrastructure, raising risks to oil flows.
• Sources said OPEC+ is considering raising output by up to 500,000 barrels per day in November, with a decision expected at the alliance’s meeting on Sunday.
• U.S. EIA data showed a 1.8 million-barrel crude stock build to 416.5 million last week, as the IEA warns of a potential record surplus next year and U.S. output sits at record highs.