In the global commodities markets, Brent for March 2018 settlement was up 35 cents at $69.17 a barrel.
The contract had risen $1.04 a barrel or 1.53% at $68.82 a barrel during the previous trading session.
Oil prices extended gains supported by Organization of the Petroleum Exporting Countries (OPEC)-led production cuts and expectations that US crude inventories have dropped for an eighth week in a row.
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