Oil Mixed Amid Anticipation for OPEC+ Summit

Oil prices showed a mixed performance on Thursday amid anticipation for the upcoming monthly meeting of the OPEC+ alliance to review production policies.

Brent crude futures for May delivery closed lower by 7 cents, or 0.1%, at $66.11 per barrel, following three consecutive daily increases that helped the global crude benchmark contracts rise to their highest level in about 13 months. As expectations point to a potential rise in output by OPEC+ in March.

Meanwhile, the West Texas Intermediate (WTI) crude futures for April delivery returned to gains after falling earlier in the session and finished higher by 31 cents, or 0.5%, at $63.53 per barrel, which is the highest closing level for the U.S. benchmark crude since May 2019.