Oil Extends Gains on Kurdish Supply Risks, Banking Relief

Active pumpjacks from oil wells are pictured at the Inglewood Oil Field, the largest urban oil field in the United States, from the Baldwin Hills Scenic, Overlook in Culver City, Calif., on March 10, 2022. Bing Guan/Reuters

LONDON—Crude prices firmed on Tuesday, extending sharp gains from the previous session amid supply disruption risks from Iraqi Kurdistan and hopes that turmoil in banking is being contained.

Brent crude futures gained 61 cents, 0.8 percent, to $78.73 a barrel by 1006 GMT. West Texas Intermediate U.S. crude was up 53 cents, or 0.7 percent, to $73.34 a barrel.