Oil futures settled higher Wednesday, finding support after snapping a three-day winning streak that had been driven in part by wider U.S. sanctions on Russia as well as cold weather in much of the U.

Oil prices slipped on Tuesday after a U.S. government agency forecast steady U.S. oil demand in 2025 while lifting its forecast for supply.

Oil prices rose for the fourth consecutive week due to supply concerns and uncertainty over energy policies from the incoming president.

Oil prices are expected to face downward pressures over the next 2 years due to global oil production outpacing demand, according to a report by the US Energy Information

The International Energy Agency on Wednesday lowered its projection for 2025 oil demand growth though the organization said levels would exceed last year's.

Oil prices gained for a second session on Thursday, supported by worries over potential supply disruptions amid U.S. sanctions on Russia, a larger-than-forecast fall in U.S. crude oil stocks, and an improving global demand outlook.

Oil prices on the New York fuel exchange remain high due to concerns about threats to the global supply of this resource. Brokers report that U.S. oil reserves have experienced the most extended series of declines since 2021.

Oil prices on the New York fuel exchange remain high due to concerns about threats to the global supply of this resource, with U.S. oil reserves experiencing the longest series of declines since 2021,