Open Demo Account
Home / Market Update / Commodities / Oil Prices Resume Gains on Output Disruptions

Oil Prices Resume Gains on Output Disruptions

M. Ali 8 October, 2020 8:19 pm Commodities, Market Update

Oil prices returned to gains due to a number of support factors, led by the output disruptions in North America and Europe.

Brent crude futures are up by 2.02%, trading at $42.84 a barrel, while the US West Texas Intermediate (WTI) futures are up by 2% at $40.75 a barrel.

More than 80% of crude production in the Gulf of Mexico has reportedly been stopped due to Hurricane Delta, while a strike in Norway is also affecting output capacities.

Tags

Check Also

Oil on the Edge: Prices Race Up as Hormuz Tensions Tighten and Diplomacy Stalls

Global oil markets are approaching a critical tipping point, with prices climbing toward the psychologically …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends