Oil Climbed Up Again

Oil gained to $62 a barrel on Tuesday, halting a steep sell-off after Iran's release of British military personnel as traders fretted over Iran's nuclear programme and U.S. gasoline supplies.

U.S. crude gained 32 cents to $61.83 a barrel by 0327 GMT, after plunging $2.77 or 4.3 percent on Monday. London Brent crude was up 40 cents at $66.99, recovering from a $1.65 loss in Monday trade subdued by the Easter holiday.

Brent has moved to a record premium to U.S. crude of more than $5 a barrel, reflecting high supplies of U.S. crude at the key Cushing, Oklahoma supply hub.