Oil prices rise amid Gulf of Mexico storm, Middle East tensions
SEOUL: Oil prices rose 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 in the Middle East.
Brent crude futures were up 37 cents, or 0.6 per cent, at $66.89 per barrel by 0115 GMT. The international benchmark settled down 0.7 per cent on Thursday after hitting its highest since May 30 at $67.52 a barrel.
US West Texas Intermediate (WTI) crude futures were up 34 cents, or 0.6 per cent, at $60.54 a barrel. The US benchmark closed 0.38 per cent lower on Thursday after marking its highest since May 23 at $60.94.
