Oil rises in price after the shutdown of production in the Gulf of Mexico

The United States announced a suspension of oil production in the Gulf of Mexico due to the approach of Hurricane Ian to American oil fields, which prompted major mining companies to suspend the operation of their offshore platforms.

US crude rose 2.5% to $78.37 a barrel, while Brent rose 2.25% to $85.86 a barrel.

BP and Chevron have confirmed the suspension of production at offshore platforms in the Gulf of Mexico as the hurricane approaches, as production in the Gulf of Mexico accounts for about 17% of US oil production, which recorded 12.1 million barrels. per day at its highest level in nearly two years.

Source: FX News Today

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