Oil prices keep climbing despite lack of output freeze

Oil prices keep climbing despite the inability of major crude producers to co-ordinate a freeze on output levels.

U.S. crude jumped by 3.8 per cent to $42.63 (U.S.) a barrel on Wednesday, following data that showed a smaller-than-expected weekly increase in inventories in the United States. It marked the second straight session of prices gains, The Globe and Mail reports.