Oil jumps more than 1% due to the decline of Canadian supplies to America

Oil jumped more than 1 percent on Wednesday, helped by a drop in Canadian crude supplies through a U.S pipeline and a drop in U.S crude stocks, as well as expectations of an extension of OPEC-led oil production cuts.

By 0743 GMT, the WTI was up $ 1 or 1.8 percent, at $57.83 a barrel.

Brent crude was up 63 cents, or 1 percent, at $ 63.20 a barrel.