PERTH - Oil rose towards $133 a barrel on Monday, extending the previous session's gains on a supply outage at the Statfjord oilfield in the North Sea and a weak US dollar.
US light crude for July delivery rose 40 cents to $132.59 a barrel by 0229 GMT, extending Friday's gains of $1.38. It struck a record high of $135.09 in intraday trade last week.
London Brent crude rose 33 cents to $131.90.
"The market is continuing to focus on supply side concerns and the outage at Statfjord field is an issue," said Gerard Burg, a commodities analyst at the National Australian Bank.
An oil spill at Statfjord shut about 138,000 barrels per day of production on Saturday and triggered the evacuation of workers, operator StatoilHydro said.
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Oil extends gains on supply concerns
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