Oil extends gains on higher gasoline demand, tighter supply

SINGAPORE: Oil prices continued to climb on Tuesday with investors expecting a tighter market led by a seasonal rise in gasoline demand and supply cuts from OPEC+ producers, though concerns over the risk of a U.S. debt default capped gains.

Brent crude futures rose 35 cents, or 0.46%, to $76.34 a barrel by 0630 GMT while U.S. West Texas Intermediate (WTI) crude was at $72.41 a barrel, up 36 cents, or 0.50%.