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Oil prices rise as storms and air strikes threaten supply
PERTH: Oil prices rose on Wednesday as the market weighed supply constraints from a storm heading for US oil-producing regions and attacks by Yemen’s Houthis on Saudi Arabia against increased supplies of Middle East crude. Brent futures rose 93 cents, or 0.92%, to $101.51 a barrel by 0022 GMT. US West Texas Intermediate (WTI) crude rose 82 cents, or 0.92%, to $90.25. US forecasters said on Tuesday a storm forming in the Gulf of Mexico would become the first Atlantic hurricane of 2026 within two days and would likely hit oil and gas producing facilities. The offshore areas in the Gulf in th...
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