Posted by editor on March 29, 2017
Oil prices edged higher on Wednesday, hitting a one-week high as investors looked ahead to weekly supply data from the U.S., while monitoring disruptions to Libyan crude production.
Optimism that an OPEC-led production cut deal will be extended through the end of the year further supported prices.
The U.S. West Texas Intermediate crude May contract reached a session peak of $48.84 a barrel, the highest since March 21.
It was last at $48.80 by 4:00AM ET (08:00GMT), up 43 cents, or around 0.9%, after rising 64 cents on Tuesday.