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 Mid-East supply disruption brought about by the Israel-Hamas conflict.
Brent crude futures climbed 11 cents, or 0.1 per cent, to $80.72 a barrel by 0012 GMT while US West Texas Intermediate crude was at $75.97 a barrel, up 8 cents. The front-month December contract expires later on Monday while the more active January futures gained 13 cents, or 0.2 per cent, at $76.17 a barrel.
