Commodities: Oil Gains On Uncertainty Around Russian Oil

2025-09-08 09:02:00 ET

By Ewa Manthey and Warren Patterson

Energy – OPEC+ lowers supply increments

Oil prices moved higher today, with both ICE Brent and NYMEX WTI trading just shy of a 2% gain on the day. The rise comes after reports that the European Union is exploring new sanctions on Russian banks and energy companies as part of its latest measures to end the war in Ukraine. Meanwhile, OPEC+ agreed to increase output by 137k b/d in October, much lower than the hikes implemented over the previous months. The group raised output by around 550k b/d in both August and September 2025. The slowdown in incremental volume from the group should help trim the expected market surplus....

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