Oil mixed amid concerns about excess supply as rigs shut over storm
Tropical Storm Sally strengthens in Gulf of Mexico, disrupting production for the second time in less than a month
14 September 2020 - 08:02
Tokyo — Oil prices were mixed on Monday with US crude rising as a tropical storm in the Gulf of Mexico forced rigs to shut down, but the gains were kept in check by wider concerns about excess supply and falling demand for fuels.
US West Texas Intermediate (WTI) crude futures were up 9c, or 0.2%, at $37.42 a barrel by about 2.50am. Brent crude was down 3c at $39.80 a barrel...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.