Oil prices extend gains

London - Oil prices rose solidly on Thursday for a second day running on robust US economic data and supply disruptions in Africa's main crude producing nations, analysts said.

New York's main contract, West Texas Intermediate (WTI) for delivery in May, gained 86 cents to $101.12 a barrel.

Brent North Sea crude for May grew 54 cents to stand at $107.57 a barrel in London afternoon deals compared with Wednesday's close.

The US economy grew 2.6% in the fourth quarter of last year, expanding by more than previously thought, the government said on Thursday.

The Commerce Department revised higher its prior 2.4% estimate of gross domestic product growth in the quarter, matching analyst expectations.

On Wednesday, official data showed that orders for US durable goods -- a key measure for the economy -- rose 2.2% in February from the prior month, beating analysts' expectations for a 1.0% decline.

Prices were supported by the weekly US crude stockpiles report that showed a decline of 1.3 million barrels at the Cushing, Oklahoma oil-trading hub for the US benchmark, indicating expansion in economic activity.

European benchmark Brent crude was being influenced by concerns over supply disruption in oil producers Libya and Nigeria, analysts said.

Libya

In Libya, rebels pressing for autonomy for the country's eastern Cyrenaica region have been blockading terminals since July, leading to a decline in exports from 1.5 million barrels a day to just 250 000.

And Anglo-Dutch oil giant Shell on Wednesday said it had declared a "force majeure" on crude from Nigeria as it struggles to repair a sabotaged pipeline.

"Force majeure" is a legal term releasing a company from contractual obligations when faced with circumstances beyond its control.

Nigeria is Africa's biggest oil producer, accounting for more than two million barrels per day.

"While geopolitical events will influence price of Brent, WTI prices will be guided by economic data from the US," said Ernst & Young analyst Sanjeev Gupta.