Oil extended gains for the third day as US industry data showed crude and gasoline stockpiles declined. Brent crude for September settlement climbed as much as 96 cents, or two per cent, to US$48.48 a barrel on the London-based ICE Futures Europe exchange.
Oman crude price jumps 3.6%
Oman crude oil price surged by 3.6 per cent on Wednesday. According to a statement from the Dubai Mercantile Exchange (DME), Oman crude gained US$1.64 to reach US$46.96 per barrel compared with US$45.33 per barrel on Tuesday.