Oil Prices Edge Higher After Recent Losses

Oil prices rose Thursday after three sessions of declines, supported by the prospect of tighter sanctions on Russian crude and stockpiling demand from China.

Brent gained 20 cents to $65.55 a barrel, while WTI climbed 20 cents to $61.98. Analysts said buying interest returned as WTI neared its $60 support level, aided by geopolitical risks and talk of new restrictions on Russian oil.

G7 ministers pledged to crack down on buyers circumventing sanctions, while reports said the U.S. will provide Ukraine with intelligence to target Russian energy infrastructure.

Still, worries over a potential U.S. government shutdown, rising OPEC+ output, and higher U.S. inventories capped gains.