 "Brent crude surges above $109 on Libya supply cut")
Brent oil edged higher above $109 a barrel on Wednesday as export disruptions in Libya cut supplies to Europe and Asia, while the benchmark US contract fell towards $97 after a bigger-than-expected increase in inventories in the US.
The divergent course of North American and international oil markets boosted Brent's premium over the US benchmark to more than $12 a barrel, with the heavily traded spread on course to settle at its widest level since April.
Traders were also looking ahead to comments from a US Federal Reserve policy meeting that ends later in the day, but any impact on oil prices may be limited.
Brent crude for December delivery was up 38 cents at $109.39 a barrel by 1117 GMT, after falling 60 cents on Tuesday. It touched an intraday high of $109.64 on Wednesday.
U.S. crude, also known as West Texas Intermediate (WTI), was 92 cents lower at $97.28, having hit an intraday low of $97.19.
The divergent course of North American and international oil markets boosted Brent's premium over the US benchmark to more than $12 a barrel, with the heavily traded spread on course to settle at its widest level since April.
Traders were also looking ahead to comments from a US Federal Reserve policy meeting that ends later in the day, but any impact on oil prices may be limited.
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Brent crude for December delivery was up 38 cents at $109.39 a barrel by 1117 GMT, after falling 60 cents on Tuesday. It touched an intraday high of $109.64 on Wednesday.
U.S. crude, also known as West Texas Intermediate (WTI), was 92 cents lower at $97.28, having hit an intraday low of $97.19.