31MAY2018 - NEWS - Oil prices rose by more than 2% on Wednesday

Oil prices rose on Wednesday with Brent crude price gaining around 2.7 percent to settle at $77.50 per barrel. US West Texas Intermediate (WTI) crude gained 2.2 percent to settle at $68.21 per barrel. Both Brent crude and West Texas Intermediate (WTI) crude are the major classifications of the crude oil which serves as the benchmark for oil pricing worldwide.