The hurricane raised oil prices




The cost of the December futures contract for Brent crude rose 2.6 percent and reached $43.08 per barrel for the first time since September 21. This is evidenced by the data of trading on the London stock exchange ICE. The maximum value during the trading session was $43.19. The price of WTI crude oil rose by 2.34 percent, to $41.17 per barrel, during trading it rose to $41.39.





Quotations went up amid concerns about the supply of raw materials: part of the production in the Gulf of Mexico had to be suspended due to hurricane Delta, which is heading towards the United States. According to Reuters, oil companies have evacuated workers from the platforms and halted production of about 1.5 million barrels of oil per day.

In addition, there are concerns about mining in Norway. Oil producer Equinor warned that due to the strike of workers, production at the Johan Sverdrup field in the North Sea may be temporarily suspended.

According to analysts, the price per barrel will fall to $ 36-38, but at the same time, they believe that there will be no repetition of the April failure with prices falling to $25 and below. The decline in prices is due to the fact that countries in the world are to one degree or another forced to reintroduce quarantine restrictions. In total, with the onset of autumn, Brent lost almost 15 percent of its value.





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TAGS: OIL PRICES

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