Investing.com -
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.
Brent crude futures were trading at $45.45 per barrel at 06.30 ET.
U.S. crude futures were up $1, or 2.28%, at $44.78.
Crude prices were being driven up by an uncontrolled wildfire in Canada that disrupted oil production in the province of Alberta.
Investors were also digesting data showing the sharpest one-week decline in U.S. production in nearly a year and a stronger than expected build in domestic crude stockpiles last week.
Crude inventories rose 2.8 million barrels to 543.4 million barrels, a fresh record high.
More critically, U.S. production decreased by 113,000 barrels per day, the biggest weekly decline since last July.