Oil Extends Rally on Russia Sanctions Bets, Stocks Wobble

Washington and other major economies have pledged to unleash millions of barrels from their stockpiles to keep a lid on prices. Brandon Bell GETTY IMAGES NORTH AMERICA/AFP/File

Oil prices extended gains Tuesday on the prospect of further sanctions on Russia for alleged "atrocities" in some occupied Ukraine cities, while equities struggled to build on a rally in New York and Europe.

European Union officials were discussing new measures against Moscow after reports -- denied by the Kremlin -- that troops had executed civilians, AFP said.