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Oil prices rise by about USD1/bbl
NEW YORK: Oil prices rose by about USD1 a barrel on Wednesday, and logged steep monthly gains, on stalled US-Iran peace talks and tightening US fuel markets. The Brent November futures contract, which expires on Wednesday, settled up 91 cents, or 0.9 percent, at USD103.50 a barrel. The more active December contract was up USD1.87, or 1.9 percent, at USD98.03. US West Texas Intermediate crude settled at USD90.42, up USD1.04, or 1.2 percent. Brent recorded a monthly gain of around 14 percent, its biggest since July, while WTI increased by about 5 percent on the month. Qatar said on Tuesday it ho...
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