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Follow-up – WAA
Oil prices continued to record gains on Tuesday, amid concerns about US production in the wake of Hurricane Francine, as well as expectations of a decline in US crude inventories.
Brent crude futures for November rose 16 cents, or 0.2%, to $72.91 a barrel, while U.S. crude futures for October jumped 34 cents, or 0.5%, to $70.43 a barrel.
Brent and U.S. crude futures settled higher in the previous session after concerns about Hurricane Frances’ continued impact on production in the U.S. Gulf of Mexico offset concerns about Chinese demand ahead of the Federal Reserve’s interest rate cut this week, which is expected to be positive for oil investor sentiment.
Source: Arabic