Oil costs rise, hit 2-month highs on provide worries By Reuters


© Reuters. FILE PHOTO: A employee holds a nozzle to pump petrol right into a car at a gas station in Mumbai, India, Could 21, 2018. REUTERS/Francis Mascarenhas/File Photograph

By Jessica Resnick-Ault

NEW YORK (Reuters) -Oil costs rose on Thursday, supported by rising gas demand and a attract inventories as manufacturing remained hampered within the Gulf of Mexico after two hurricanes.

Provide issues had funds taking longer positions, analysts mentioned.

was up 90 cents, or 1.8%, to $77.10 a barrel at 12:27 EDT (1627 GMT), its highest since mid-July. U.S. West Texas Intermediate (WTI) crude rose $1.03, or 1.5%, to $73.28 a barrel.

“The truth is setting in – there’s extra speak about international inventories tightening and there are issues about provide points going into winter,” mentioned Phil Flynn, senior analyst at Worth Futures Group in Chicago. Extra assist might come because the White Home takes a harder line on

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