Oil hovers near 6-week high amid Gulf of Mexico storm, West Asia tensions
Oil prices hovered near six-week highs on Friday as US oil producers in the Gulf of Mexico cut more than half their output in the face of a tropical storm and as tensions continued to simmer in the Middle East.
Brent crude futures were up 53 cents, or 0.8%, at $67.05 per barrel by 0606 GMT. The international benchmark settled down 0.7% on Thursday after hitting its highest since May 30 at $67.65 a barrel.
US West Texas Intermediate (WTI) crude futures were up 42 cents, or 0.7%, at $60.62 a barrel. The US benchmark marked its highest level since May 23 in the previous session at $60.94.
