Oil rises as hurricane disrupts production
Oil extends gains from previous session, as Hurricane Sally nears US coast and an industry report shows a big drop in US crude stockpiles
16 September 2020 - 09:26
Tokyo — Oil prices rose on Wednesday, extending gains from the previous session, as a hurricane disrupted US offshore oil and gas production and an industry report showed a big drop in US crude stockpiles.
Brent crude was trading up 15c, or 0.4%, at $40.68 a barrel by 12.55am GMT, while US crude gained 18 cents, or 0.5%, to $38.46 a barrel. Both contracts rose by more than 2% on Tuesday...
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.