Latest Oil Market News and Analysis for Oct. 8

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Oil edged higher after a mixed US inventories report, with traders also focused on the broader outlook for supply as OPEC+ presses on with output increases and American production expands.
Brent rose toward $66 a barrel after ending little changed on Tuesday, with West Texas Intermediate above $62. The American Petroleum InstituteBloomberg Terminal reported a drop of 1.8 million barrels at the Cushing, Oklahoma, hub last week, as well as declines in product holdings including gasoline. Nationwide crude holdings were estimated to have risen, although they remain near seasonal lows .