Oil Prices hit fresh highs on Wednesday

GMT 14:05 2016 Wednesday ,18 May

Arab Today, arab today Oil Prices hit fresh highs on Wednesday

Singapore - QNA

Crude prices hit fresh 2016 highs in its march toward $50 in Asia Wednesday, fanned by escalating wildfires in Canada's oil sands region and hopes of an easing in a global supply glut.

    At about 0700 GMT, US benchmark West Texas Intermediate (WTI) for June delivery rose eight cents, or 0.17 percent, to $48.39 a barrel.Brent for July delivery climbed five cents, or 0.10 percent to $49.33, around its highest levels since October. 

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