1533 ET - Oil futures give back gains on renewed oversupply concerns after the market had shrugged off a raft of bearish factors the previous three sessions, from an even bigger OPEC+ output increase in August to a second large U.S. crude stock build. A Bloomberg report that OPEC+ delegates are discussing a pause in output increases in October put pressure on futures, Mizuho's Robert Yawger says in a note. The implication is that further unwinds beyond the 2.2 million barrels a day are a possibility. But "there are apparently people at the producer group who are concerned about supply swamping out demand in the fourth quarter," he says. WTI settles down 2.6% at $66.59 a barrel. Brent falls 2.2% to $68.81. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

July 10, 2025 15:33 ET (19:33 GMT)

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