Oil futures climb as supply concerns linger

Oil futures extended gains on Thursday morning, after sharply rising in the first portion of the week, as traders weighed additional supply disruptions following reports of storm damage at a major export terminal system on the Black Sea.

Brent futures were up about $1.06, or 0.9%, to $122.66 a barrel and U.S. West Texas Intermediate futures were up about 79 cents, or 0.7%, to $115.68 a barrel at 0051 GMT. U.S. futures opened the session down slightly.