Oil Prices Jump in Early Asian Trading, Brent at US$103.73

Oil prices rose in early Asian trading on Wednesday, marking an increase in the market. Brent crude futures led the charge, rising by US$1.14, or 1.11 percent, to US$103.73 a barrel. This price hike puts Brent on track for a monthly gain of around 14 percent, its biggest climb since July.

West Texas Intermediate (WTI) crude also saw an increase, rising 34 cents, or 0.38 percent, to US$89.72. Interestingly, WTI is on the verge of achieving a 4 percent rise after having breached US$106 for the first time since May.