Reported 21 days ago
Oil prices have increased slightly as traders focus on the closely contested US presidential election and the potential impact of Tropical Storm Rafael on Gulf production. West Texas Intermediate climbed to around $72 a barrel, while Brent settled above $75. The storm threatens to disrupt approximately 1.7 million barrels of daily oil output, prompting Chevron and Shell to take precautionary measures. Additionally, the election results could significantly influence US energy policies and international trade, particularly affecting sanctions on Iran and oil flows from Russia.
Source: YAHOO