Oil extends gains on Middle East supply worries

Singapore, Jan. 4 (BNA): Oil prices rose on Thursday, adding to solid gains in the previous session.

Brent crude rose 38 cents, or 0.5%, to $78.63 a barrel by 0440 GMT.

U.S. West Texas Intermediate crude futures rose 52 cents, or 0.7%, to $73.22, Reuters reported.

 

Both benchmarks rose by around 3% to settle higher for the for the first time in five days on Wednesday.

M.I.