Oil extends gains on Russia gas tension, China stimulus hopes

Brent crude futures rose 67 cents to US$105.66 a barrel by 0636 GMT, U.S. West Texas Intermediate crude futures gained 44 cents to US$102.14 a barrel

Oil prices extended gains on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Bulgaria and Poland, while hopes of Chinese economic stimulus buoyed the demand outlook.

Brent crude futures rose 67 cents, or 0.6%, to US$105.66 a barrel by 0636 GMT. U.S. West Texas Intermediate crude futures gained 44 cents, or 0.4%, to US$102.14 a barrel.

Crude prices settled about 3% higher on Tuesday in volatile trade as the market is torn between supply and demand concerns over Russian oil and gas disruption and a worsening global economic outlook.