Latest Oil Market News and Analysis for Oct. 28

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Oil steadied after two-day drop as investors weighed signs of glut and the fallout from western sanctions on Russian producers.
West Texas Intermediate traded near $61, while Brent closed below $66 on Monday. The amount of oil being shipped across the world’s oceans hit a fresh record, a sign supplies are continuing to mount. In addition, OPEC+ may agree to add more production at a meeting this weekend.