New York, January 29 (QNA) - Oil prices rose on Wednesday to their highest levels since late September, extending gains amid strong monthly performance.

Brent crude futures settled up 83 cents, or 1.23%, at $68.40 a barrel, while US West Texas Intermediate crude gained 82 cents, or 1.31%, to close at $63.21 a barrel.

Both benchmarks are on track for their largest monthly percentage increase since July 2023.

Brent crude is expected to post a monthly rise of around 12%, while WTI is set to gain roughly 10%, reflecting improved market sentiment and tighter supply expectations. (QNA)