Oil prices jump

Reuters

Singapore

Oil prices jumped on Thursday as a huge wildfire in Canada disrupted oil sands production, while escalating fighting in Libya threatened the North African nation´s output.

International benchmark Brent crude futures were trading at $45.36 per barrel at 0654 GMT, up 74 cents or 1.7 percent from their last close, after three days of declining prices.

U.S. West Texas Intermediate (WTI) crude futures were up 95 cents, or 2.2 percent, at $44.73.Traders said WTI prices were being driven up by an uncontrolled wildfire in Canada that disrupted oil production in the province of Alberta.

A massive wildfire has forced the evacuation of all 88,000 people in the western Canadian oil city of Fort McMurray and burned down 1,600 structures, and has the potential to destroy much of the town, authorities said.