Oil extends gains, Brent nears $59

Oil prices extended gains on Thursday as OPEC+ maintained its oil output policy in a meeting on Wednesday, Feb. 2, 2021, and as crude stockpiles in the US fell to their lowest levels since March 2020.

International benchmark Brent crude was trading up 0.6 percent at $58.80 per barrel, at 7 am Riyadh time.

WTI crude rose 0.7 percent to $56.09 a barrel.