Oil prices rise as workers evacuate oil rigs in Gulf as Hurricane Delta approaches – By Sonali Paul (Reuters) / Oct 7 2020
Category 3 storm forces removal of 183 offshore facilities, report says
MELBOURNE – Oil prices rose on Thursday as oil workers evacuated rigs in the U.S. Gulf of Mexico ahead of Hurricane Delta, though fuel demand concerns persisted on fading chances for an economic stimulus deal in the United States, the world’s biggest oil consumer.
U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 13 cents, or 0.3%, to $40.08 a barrel at 0215 GMT, after falling 1.8% on Wednesday.
Brent crude LCOc1 futures rose 20 cents, or 0.5%, to $42.19 a barrel, after falling 1.6% on Wednesday.
With Hurricane Delta forecast to intensify into a Category 3 storm with winds of up to 120 miles per hour (193 km per hour), oil producers have evacuated 183 offshore facilities and halted nearly 1.5 million barrels per day (bpd) of oil output.
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