Latest Oil Market News and Analysis for Oct. 24

Oil was on track for the biggest weekly gain since June after US sanctions on major Russian producers upended the market, raising the prospect for supply disruptions and greater demand for alternative grades.
Brent traded near $66 a barrel after jumping 5.4% in the previous session, while West Texas Intermediate was below $62. Russian crude flows to key buyer India are expected to plunge following the penalties on Rosneft PJSC and Lukoil PJSC, though the impact on China’s purchases is less clear.