Latest Oil Market News and Analysis for Oct. 7

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Oil steadied after a two-day advance after OPEC+ agreed on a modest supply quota increase, with traders also parsing signals from lower-than-expected Saudi prices.
Brent crude traded above $65 a barrel after a 1.5% gain on Monday, with West Texas Intermediate near $62. OPEC and allies including Russia decided at the weekend on a 137,000-barrel-a-day increment, while de-facto leader Saudi Arabia kept the price of its main grade to Asia unchanged in a sign of caution, surprising traders who had expected an increase.