Check out the latest news and performance numbers from the top technology and FAANG stocks like Apple and Facebook, plus Microsoft, Netflix and more. Read More...
Reuters
Oil rises to one-week high as U.S. supply concerns dominate
SINGAPORE (Reuters) -Oil prices rose for a second session on Monday as concerns over shut output in the United States, the world’s biggest producer, following damage from Hurricane Ida supported the market, along with expectations for higher demand. Brent crude rose 67 cents, or 0.9% to $73.59 a barrel, and U.S. West Texas Intermediate (WTI) crude also added 66 cents, or 1%, to $70.38 at 0633 GMT. About three-quarters of the offshore oil production in the U.S. Gulf of Mexico, or about 1.4 million barrels per day, has remained halted since late August, roughly equal to what OPEC member Nigeria produces.
Add Comment