Oil prices rose on Tuesday after hitting their lowest levels since January in the prior session, Trend reports citing Xinhua.
The West Texas Intermediate for November delivery increased 1.79 U.S. dollars, or 2.3 percent, to settle at 78.5 dollars a barrel on the New York Mercantile Exchange. Brent crude for November delivery added 2.21 dollars, or 2.6 percent, to settle at 86.27 dollars a barrel on the London ICE Futures Exchange.
Prices garnered some support from supply curbs in the U.S. Gulf of Mexico as Hurricane Ian forced oil companies in the region to evacuate personnel and shut in production.
The U.S. Bureau of Safety and Environmental Enforcement reported Tuesday that about 11 percent of oil production and 8.56 percent of natural-gas production in the Gulf have been shut.