Oil prices stabilized after three days of decline driven by rising concerns over supply surplus following the “OPEC+” group’s agreement to a significant production increase in September. However, the potential for disruptions to additional Russian supplies supported the market.
Brent crude futures settled at $68.76 per barrel, while U.S. West Texas Intermediate (WTI) crude dropped by two cents, or 0.03 percent, to $66.27 per barrel.
Both benchmarks had dropped more than 1 percent in the previous session, hitting their lowest levels in a week at settlement.
Source: (Al Arabiya.Net Website, Edited)
