SINGAPORE: Oil futures nudged higher on Monday, extending gains on expectations of OPEC+ deepening supply cuts to shore up prices, which have fallen for four weeks on easing concern of Middle East supply disruption amid the Israel-Hamas conflict.
Brent crude futures climbed 57 cents, or 0.7%, to $81.18 a barrel by 0400 GMT while U.S. West Texas Intermediate crude was at $76.40 a barrel, up 51 cents or 0.7%. The front-month December contract expires later on Monday while the more active January futures gained 55 cents, or 0.7%, at $76.59 a barrel.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
