Amid possible penalties for Russian crude … high oil prices

On Thursday, oil prices rose, ending a series of losses that lasted for three consecutive days to recover from their lowest levels in 16 weeks, amid the possibility of tightening sanctions on Russian crude.

OPEC denied media reports indicating that a group of eight oil producing countries intends to increase production 500 thousand barrels per day. By 01:16 GMT, Brent crude futures rose 15 cents, or 0.2% to reach $ 65.50 a barrel.