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Oil Prices Rise on Storm Zeta News

M. Ali 27 October, 2020 11:37 pm Commodities, Market Update

Oil prices rose on Tuesday as weather conditions are expected to once again affect production in the Gulf of Mexico,

On the other hand, a gloomy outlook for global demand amid another surge in COVID-19 cases limited crude gains.

Brent crude futures for December delivery increased by 74 cents, or 1.8%, and closed at $41.20 per barrel.

Meanwhile, the West Texas Intermediate (WTI) futures for December delivery added $1.01, or 2.6%, to finish at $39.57 per barrel.

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