U.S. oil benchmark bounces off 15-month low on potential hurricane threat

U.S. oil benchmark bounces off 15-month low on potential hurricane threat

From morningstar.com

Storm forecast to hit Gulf Coast this week Oil futures rose Monday, bouncing after last week's rout, as investors tracked a storm that's seen potentially strengthening into a hurricane and threatening the U.S. Gulf Coast later this week. Price moves West Texas Intermediate crude CL00 for October delivery CL.1 CLV24 rose 72 cents, or 1.1%, to $68.39 a barrel on the New York Mercantile Exchange.November Brent crude BRN00 BRNX24, the global benchmark, was up 68 cents, or 1%, at $71.74 a barrel on ICE Futures Europe. Market drivers The National Weather Service forecasts that a disturbance in the southwest Gulf of Mexico ... (full story)

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