Oil prices advanced on Wednesday

International benchmark for oil prices continue to advance on Wednesday (25 May) after report from the US Department of Energy report showed some 4.2 million barrels in the week ending 20 may 2016, added to expectation of a of a tightening global market. Supply disruptions in Canada, Nigeria and Libya are also helping to support the upward price momentum. However, some analysts say the outages are likely to be temporary and many of those barrels will come back online soon.

WTI closed at $49.56/barrel (+$0.94) June delivery

Brent closed at $49.74/barrel (+0.1.13) July delivery