Energy companies shut more than 1-million bpd of offshore crude production in US Gulf of Mexico
Oil pumps are seen after sunset outside Vaudoy-en-Brie, near Paris, France. Picture: REUTERS/CHRISTIAN HARTMANN
Brent crude was up 32c, or 0.7%, at $44.67 a barrel by 9.53am. US West Texas Intermediate crude rose 31c, or 0.7%, to $42.65. Energy companies shut more than 1-million barrels per day of offshore crude oil production in the US Gulf of Mexico because of the twin threat from Hurricane Marco and Tropical Storm Laura. Workers have been evacuated from more than 100 production platforms.
Also supporting prices was a report by the Financial Times that US President Donald Trump is considering fast-tracking an experimental Covid-19 vaccine being developed by AstraZeneca and Oxford University.
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