Oil Prices Extend Gains as Market Awaits Key OPEC+ Meeting

Oil prices extended gains early on Wednesday as a storm continues to disrupt crude loadings in the Black Sea and the market awaits news about the next move from OPEC+ set to hold a meeting on Thursday. As of 8:50 a.m. ET on Wednesday, the U.S. benchmark, WTI Crude, traded 1.77% higher at $77.79, and Brent Crude, the international benchmark, was up by 1.54% on the day at $82.96.   Ahead of the weekly EIA inventory report, prices were supported by the industry report from API showing a small draw in U.S. commercial crude stockpiles and a drop…