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Oil extends gains on worries of U.S. supply disruptions from another storm

From nasdaq.com

Oil prices extended gains on Tuesday, hovering near a six-week high, on signs another storm could affect output in Texas this week even as the U.S. industry struggles to return production after Hurricane Ida wreaked havoc on the Gulf Coast. Brent crude LCOc1 rose 15 cents, or 0.2% to $73.66 a barrel by 0048 GTM, having gained 0.8% the previous day. U.S. West Texas Intermediate (WTI) crude CLc1 also climbed 23 cents, or 0.3%, to $70.68 a barrel, after rising 1.1% on Monday. Both benchmarks were hovering near their highest since early August hit the previous day. Evacuations were underway on Monday from offshore U.S. ... (full story)

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  • Category: Fundamental Analysis