Oil Updates — Crude extends gains as OPEC+ to mull deeper cuts

SINGAPORE: Oil futures nudged higher on Monday, extending gains on expectations of deepening supply cuts from the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, expected to shore up prices, which have fallen for four weeks on easing concerns of Middle East supply disruption amid the Israel-Hamas conflict.

Brent crude futures climbed 61 cents, or 0.76 percent, to $81.22 a barrel by 10:20 a.m. Saudi time, while US West Texas Intermediate crude was at $76.49 a barrel, up 60 cents or 0.79 percent.