Oil rises over 2% as U.S. Gulf Coast braces for hurricane
Oil prices rose more than 2% on Tuesday, supported by hurricane supply disruptions in the United States, but demand concerns loomed as energy industry forecasters predicted a slower-than-expected recovery from the pandemic.
Brent crude LCOc1 gained 92 cents, or 2.3%, to settle at $40.53 a barrel, while U.S. West Texas Intermediate (WTI) crude futures CLc1 rose $1.02, or 2.7%, to settle at $38.28 a barrel. Both contracts fell on Monday.
Reference: Reuters
Thai
Eng