Oil Finishes Higher amid Hurricane Ida

Oil prices rose on Thursday, with the recent decision and market forecasts by the OPEC+ sinking in and being properly digested by investors with the focus tilting towards coming economic data.

In addition, Hurricane Ida are impacting crude oil and fuels supply chain in North America.

Brent crude futures for November delivery gained $1.44 per barrel or 2.01% to finish at $73.03 per barrel.

This is the largest increase for the global benchmark contracts since August 27, which snapped a two-day declining streak.

The West Texas Intermediate futures added $1.40 or 2.05% to end the session at $69.99 a barrel, rising for the second consecutive session.