Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and expectations that an OPEC-led output reduction will be extended into the second half of the year. Prices for front-month Brent crude futures, the international benchmark for oil, had risen 14 cents from their last close to $51.47 per barrel by 0127 GMT. In the United States, West Texas Intermediate (WTI) crude futures were up 20 cents at $48.57 a barrel. Both crude benchmarks rose by more than 1 percent the previous day. Oil production from the western Libyan fields of Sharara and Wafa has been blocked by armed protesters, reducing output by 252,000 barrels per day (bpd), a source at the National Oil Corporation (NOC) told Reuters late on Tuesday. “That (Libya), along with the […]