Hurricane Ida Raises Global Oil Prices

Baghdad Oil prices rose today, Monday, exceeding their highest levels in more than three weeks, as a strong hurricane swept the Gulf of Mexico, closing and evacuating hundreds of offshore oil platforms.

Brent crude rose 27 cents, or 0.4 percent, to $72.80 a barrel, and rose more than 11% last week in anticipation of the disruption to oil production.

US oil turned to negative level and fell 6 cents to $68.52 a barrel, after jumping just over 10% over the past week.

 

Source: National Iraqi News Agency