Oil rises above $43 on supply losses, US stimulus hopes
Oil rose above $43 a barrel on Thursday, supported by output shutdowns in the U.S. Gulf of Mexico and the prospect of more supply losses in Norway, as well as by hopes for some U.S. coronavirus relief aid.
Oil and gas workers have withdrawn from offshore U.S. Gulf production facilities as Hurricane Delta was forecast to intensify into a powerful, Category 3 storm. Nearly 1.5 million barrels of daily output was halted.
Brent crude was up $1.16, or 2.8%, to $43.15 a barrel at 1338 GMT, after falling 1.6% on Wednesday. U.S. West Texas Intermediate (WTI) crude added $1.12, or 2.8%, to $41.07 after falling 1.8% on Wednesday.
