17-05-2016 09:08 via uk.news.yahoo.com

Oil extends gains, U.S. crude at seven-month high on supply concerns

By Aaron Sheldrick TOKYO (Reuters) - Oil futures rose for a second straight session on Tuesday, with U.S. crude hitting a seven-month high, as the market focussed on supply disruptions that prompted long-time bear Goldman Sachs to issue a bullish assessment on near-term prices. Crude oil prices have rallied for most of the past two weeks due to a combination of Nigerian, Venezuelan and other outages, declining U.S. output and curtailments of Canadian crude after fires in Alberta's oil sands regi
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