India, Oct. 1 -- Both the crude oil price benchmarks extended gains on Thursday as markets worried about the uncertain fate of U.S.-Iran negotiations. Reports of tighter Chinese fuel supplies also aided a spike in prices. Meanwhile markets expect the OPEC+ oil producers to keep oil output targets unchanged in November. A decision is expected in the meeting anticipated to take place on Sunday.
The increase in the dollar-denominated prices of crude oil is despite the strengthening of the U.S. dollar. The six-currency dollar index which measures the dollar's strength against a basket of 6 currencies has rallied 0.34 percent overnight to 101.80. The index had earlier in the day touched a high of 102.
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