Oil climbed above $70 a barrel after a run of three weekly gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand and inventories in the fourth quarter.
West Texas Intermediate added 0.4% in early Asian trading after rallying 2.3% on Friday, pushing the U.S. benchmark to a slight gain for the week. More than two weeks since Hurricane Ida slammed into the key producing region, almost half of crude output in the U.S. Gulf of Mexico has yet to be restarted, according to the Bureau of Safety and Environmental Enforcement.
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September 13, 2021 at 05:47AM
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Latest Oil Market News and Analysis for Sept 13 - Bloomberg
"Oil" - Google News
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