Singapore — Oil prices on Thursday extended gains from the previous session, pushed up by a weak dollar and comments from Saudi Arabia that it would rather see an undersupplied market than end a deal with Opec and Russia to withhold production. US West Texas Intermediate (WTI) crude futures were at $61.02 a barrel at 1.47am GMT, up 42c, or 0.7% from their last settlement, adding to a 2.4% gain in the previous session. Brent crude futures were at $64.64 a barrel, up 28c, or 0.4%, extending Wednesday’s 2.6% rise. Prices rose on the back of ongoing weakness in the US-dollar against other leading currencies, further supported by rising stock markets, traders said. A weaker greenback potentially supports consumption of dollar-denominated commodities as it makes fuel and raw materials cheaper for countries using other currencies. "On commodity markets, everyone loves a lower US dollar," said Greg McKenna, chief market strategist at futures brokerage AxiTrader. More fundamentally, oil mark...
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