Oil prices stabilized after a 4% slide, with Brent at $63.08 and WTI at $58.80. Traders focused on OPEC’s shift towards a balanced 2026 outlook. Equities rallied, but crude remained driven by supply signals. OPEC’s updated projections moved towards a supply-demand balance, causing a recovery in diesel margins and steady crude futures.

The recovery came after OPEC’s updated projections, signaling a shift towards a neutral supply-demand balance. The market reacted to rising non-OPEC output and moderate consumption growth, leading to potential surplus risks. Diesel margins firmed, while natural gas edged up. Crude remained tied to OPEC+ supply decisions and demand expectations.

Asian buying and stable demand for middle distillates supported Murban at 65.43. Natural gas edged towards 4.62 due to heating needs and lower storage levels. A softer dollar and lower Treasury yields provided some support to commodities, but Asia continued regular cargoes. The market awaits guidance on OPEC+ output levels and early 2026 demand expectations.

Read more at Yahoo Finance: Oil Stabilizes After Selloff Amid OPEC Reassessment and U.S. Funding Deal