Despite having already spent hundreds of billions of euros ensuring storage sites are filled this winter and providing support to households and businesses, the strain on public funds as well as pain for households and businesses are likely to continue next year.

Brent rose by 41 cents, or 0.48%, to trade at $85.75 a barrel, WTI went up by 57 cents, or 0.73%, from Wednesday's close to $78.51 a barrel.

OPEC producers UAE and Saudi Arabia have denied a media report that suggested OPEC+ members are planning on increasing crude production by 500,000 barrels per day ahead of their next meeting on December 4.

Failure to reach a deal would send a signal that the EU’s united response to the war-driven energy crisis is falling apart -- a political gift for Moscow that Europe is keen to avoid.

Brent dropped 15 cents, or 0.2%, to $88.21 a barrel, WTI lost 9 cents, or 0.1%, to $80.86 a barrel.

Exceptionally mild weather across Northwest Europe since October has led to a sharp drop in gas prices from record levels over the summer.

Brent had slipped 74 cents, or 0.8%, to $86.88 a barrel, WTI were at $79.40 a barrel, down 68 cents or 0.9%.

Brent had edged lower by 13 cents or 0.1% to $89.65 a barrel, WTI rose 13 cents, or 0.2%, to $81.77 a barrel.

Meanwhile, the European Union is continuing talks about ways to limit spikes in gas prices ahead of a meeting of energy ministers next week.

Brent dropped by 60 cents, or 0.6%, to $93.26 a barrel, WTI fell 69 cents, or 0.8%, to $86.23 a barrel.