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OilCrude futures fell marginally on Friday as investors considered oil's geopolitical risk premium amid drawn-out Russia-Ukraine peace talks, while keeping an eye on Sunday's Opec+ meeting for clues about potential output changes.Brent crude futures settled at $63.20, while US West Texas Intermediate (WTI) crude finished at $58.55. For the week, Brent rose by 1.0% and WTI rose by 0.8%.The strength of fuel refining profit margins has supported crude demand in some places, but the bearish impact of an expected oil surplus is pressuring prices.Meanwhile, US oil production rose to a record 13.84mn barrels per day in September, an increase of 44,000 bpd, according to the Energy Information Administration, deepening concerns that the market may be heading toward a surplus.  GasAsian spot liquefied natural gas prices hit their lowest level in eight weeks on continued muted demand and high inventories, tracking a drop in European gas prices on hopes of a Ukraine peace deal.The average LNG price for January delivery into north-east Asia was $10.90 per million British thermal units (mmBtu), down from $11.66 per mmBtu last week, industry sources estimated.Weather is going to dictate movements as temperatures have fluctuated but haven't been consistently low enough to generate provincial buyers back to the spot market, analysts said.In Europe, gas prices remained near 18-month lows, driven by news of renewed US-brokered peace efforts between Russia and Ukraine fueling hopes for eased sanctions on Russia. The Dutch TTF price settled at $9.75 per mmBtu, recording a weekly loss of 4.4%. 

Oil prices declined on Tuesday, extending losses from the previous two sessions, due to OPEC's plans to increase output, which outweighed optimism about a potential trade deal between the United States and China.Brent Crude futures dropped by four cents to $65.58 a barrel, while US West Texas Intermediate (WTI) crude futures fell by nine cents to $61.22 a barrel.Russia's Lukoil, the country's second-largest oil producer, announced its plans to sell its international assets following US sanctions.The United States announced last week a round of sanctions on Russia related to the oil sector.US Treasury Secretary Scott Bessent said in a statement that sanctions were imposed on Russia's two largest oil companies, attributing the move to Moscow's refusal to end the war in Ukraine. He added that the sanctions on Rosneft and Lukoil were due to their financing of Russia's war machine.US President Donald Trump seeks to bring an end to the conflict that began when Moscow launched its military operation in Ukraine on Feb. 24, 2022.

Oil prices rose around 1% on Thursday after US President Donald Trump said that Indian Prime Minister Narendra Modi had pledged his country would stop buying oil from Russia. Brent Crude futures rose 57 cents, or 0.9%, to $62.48 a barrel. US West Texas Intermediate (WTI) futures climbed 54 cents, or 0.9%, to $58.81. Both contracts touched their lowest since early May in the previous session on US-China trade tensions and after the International Energy Agency warned of a big surplus next year as OPEC+ producers and rivals lift output amid weak demand.