Oil prices hit at 2-week highs

Oil prices hit two-week highs on Tuesday, rising more than three percent, after a spike in Middle East tensions from Turkey's downing of a Russian fighter jet and a rally in US gasoline futures stopped crude testing low $40 levels.

Brent was up $1.43, or 3.2 per cent, at $46.26 a barrel by 12:18 pm EST (1718 GMT), after hitting a two-week high at $46.50. US crude's West Texas Intermediate futures rose $1.30 to $43.05. It hit $43.46 earlier, its highest since November 11.