Oil prices gain on continued cuts from OPEC+ and US stocks draw
Oil prices extended gains on Thursday after the OPEC+ alliance of producers stuck to its reduced output policy and U.S. crude stocks fell, with optimism over a new U.S. pandemic relief bill adding further price support.
Brent crude futures gained 24 cents, or 0.41%, to $58.70 a barrel by 1346 GMT, having earlier hit their highest level since Feb. 21 last year at $59.04.
