Tuesday 4 September 2018

U.S. crude prices rise as Gulf oil rigs evacuated; Brent dips | Reuters

U.S. crude prices rise as Gulf oil rigs evacuated; Brent dips | Reuters:

U.S. oil prices rose on Tuesday, breaking past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane. 

U.S. West Texas Intermediate (WTI) crude futures were at $70.25 per barrel at 0650 GMT, up 45 cents, or 0.6 percent from their last settlement.

Anadarko Petroleum Corp said on Monday it had evacuated and shut production at two oil platforms in the northern Gulf of Mexico ahead of the approach of Gordon, which is expected to come ashore as a hurricane.

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