Oil Rises as Traders Weigh Oversupply Concerns

Oil prices were rising in early trading but remained in a narrow range as investors weigh concerns over a looming supply surplus in global markets.Brent crude and WTI both gained 0.9% to $66.01 and $61.84 a barrel, respectively. The U.S. Energy Information Administration increased its estimates for U.S. crude-oil production and said it expects global oil inventories to put significant pressure on prices in the coming months.Meanwhile, OPEC+ agreed to increase output by 137,000 barrels a day in November, the ...