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Oil prices drifted a little higher on Wednesday to extend the previous session's gains. But, the fears of the global economic slowdown on demand kept a constant check on the prices. Brent edged up by 0.3% and was traded at $68.14 a barrel. WTI rose by 0.2% and was traded at $60.03 a barrel. According to the reports, there has been a substantial increase of 25% in the oil prices this year.