Oil prices increased on Thursday, ending a three-day losing streak, recovering from their lowest levels in 16 weeks amid prospects of tighter sanctions on Russian crude.
Brent crude futures rose by 15 cents, or 0.2 percent, to $65.50 a barrel. Meanwhile, U.S. West Texas Intermediate crude increased by 14 cents, or 0.2 percent, to $61.92 a barrel.
In the previous session, both benchmark crudes lost nearly 1 percent. Brent settled at its lowest since June 5, while West Texas Intermediate recorded its lowest since May 30.
