India, Aug. 7 -- Oil rebounded on Thursday after a five-day drop amid supply concerns as U.S. President Donald Trump warned of wider secondary sanctions for buying Russian oil.
A weaker dollar on Fed rate cut hopes, encouraging Chinese exports data and signs of steady demand in the U.S., the world's largest oil consumer, also helped prop up prices.
Benchmark Brent crude futures dropped half a percent to $67.25 a barrel in European trade, while WTI crude futures were up 0.6 percent at $64.71.
Both benchmarks fell nearly 1 percent to their lowest levels in eight weeks on Wednesday after Trump said envoy Witkoff's meeting with Russian President Vladimir Putin was 'highly productive' and he plans to meet Putin and Ukrainian President Volodym...