Oil

Crude oil higher on the day but off loftier levels

• The price of crude oil settled at $62.26 up $0.39 or 0.63%

Crude oil bounces back amid a more cautious OPEC+ guidance and threat of sanctions

• Oil prices have been climbing steadily since the market open as traders switched their focus to potential sanctions and Fed rate cuts

Goldman Sachs says it keeps its Brent/WTI price forecast unchanged for 2025

OPEC+ to raise oil output in October as Saudi pushes market-share strategy

• OPEC+ slows output hikes but signals market-share push, lifting supply from October.

Newsquawk Week Ahead: US CPI, BLS revisions, ECB, OPEC, French Vote, China CPI, Japan GDP

• Next week, highlights include US CPI, the BLS benchmark revisions, ECB rate decision, OPEC-8, French No Confidence Vote, Chinese Inflation & Trade, Japanese GDP, and the latest Apple Event

OPEC+ likely to agree to another production increase on Sunday - report

• Oil finished at $61.87 on Friday

Saudi Arabia wants OPEC+ to speed up next oil production boost

• Saudis want to continue to open the taps

Oil falls before OPEC+ output decision as U.S. crude stocks surprise with sharp build

• Oil dips ahead of OPEC+ meeting on possible output hike, U.S. inventories surprise higher.

US EIA weekly oil inventories +2415K vs -2031K expected

• Weekly crude oil storage data from the EIA

Citi price forecasts for silver (higher) and Brent crude oil (lower)

Oil: private survey of inventory shows a headline crude oil build vs draw expected

• This is from the privately surveyed oil stock data ahead of official government data tomorrow morning out of the US.

OPEC pumped more in August and could be on track to announce another boost

• The barrels just keep on coming

OPEC+ to consider another output hike at Sunday meeting

• Reuters with the report citing sources

WTI crude oil settles higher by $1.58

• Nice day for the oil bulls

Oil prices turn higher after being bounced around

• Crude oil $1.60