Oil climbs on supply risks; weak fundamentals weigh

It appears more likely that Opec+ has largely been fortunate in that it has been increasing output at a time of rising risks in the crude oil market, largely from geopolitical tensions. — Reuters

TOKYO/SINGAPORE: Oil prices climbed on Thursday as investors remain cautious the U.S.-Russia summit on Ukraine on Friday will lead to a loosening of Russian crude sanctions and may even result in further action against buyers, while a weak market outlook capped gains.

Brent crude futures were up 24 cents, or 0.37%, at $65.87 a barrel at 0356 GMT, while U.S. West Texas Intermediate crude futures rose 21 cents, or 0.34%, to $62.85.