Oil prices extend gains as supply concerns persist

Oil prices rose more than 1% on Tuesday, extending the previous session’s gains as concerns over supply continued to support the market, Qazinform News Agency cites WAM.

photo: QAZINFORM

By 00:26 GMT, Brent crude futures had climbed $1.24, or 1.18%, to $106.93 a barrel,

U.S. West Texas Intermediate (WTI) crude also gained $1.29, or 1.24%, to $102.65 a barrel.

The latest gains come after oil prices surged more than $3 on Monday.