Oil prices climbed more than $1 on Wednesday, extending overnight gains after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves. Prices were also supported as some OPEC members struggle to raise output and by a general sense of energy market shortages amid a power and gas crisis in Europe. read more U.S. West Texas Intermediate (WTI) crude futures rose $1.07, or 1.5%, to $71.56 a barrel by 0911 GMT, adding to a 35- cent gain from Tuesday. Brent crude futures climbed $0.95, or 1.3%, to $75.31 a barrel, after gaining 44 cents on Tuesday. The oil market’s focus turned to concerns of tight supply, after Monday’s pressure from broad market jitters over the possible default of Chinese property developer China Evergrande Group (3333.HK) . “Crude is supported by […]