US oil hits highest in over a month amid Gulf of Mexico storm, Iran tensions
TOKYO: US oil futures hit their highest in over a month on Thursday as a potential hurricane threatened crude output in the Gulf of Mexico and as an incident involving a British tanker in the Middle East highlighted ongoing tensions there.
US West Texas Intermediate (WTI) crude futures were up 11 cents at $60.54 a barrel by 0055 GMT, after earlier touching the highest since May 23 at $60.63. They gained 4.5 per cent in the previous session.
Brent crude futures were down 5 cents, or 0.1 per cent, at $66.96 a barrel, after ending Wednesday up 4.4 per cent.
