Latest Oil Market News and Analysis for Nov. 18

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Oil steadied as investors weighed the impact from an emerging surplus against US sanctions on Russia that have upended some crude flows.
Brent traded near $64 a barrel after a modest loss in the previous session, while West Texas Intermediate was below $60. The price of Russia’s flagship crude has plunged to the lowest level in more than two years, just days before US sanctions hit major producers Rosneft PJSC and Lukoil PJSC.