Oil prices are rising due to the threat of a storm in Gulf of Mexico
Oil rises in price this morning due to the storm threatening Gulf of Mexico. As of 8:51 am, Brent has climbed 0.38% to $ 39.98, WTI - by 0.67% to $ 37.59. Over the weekend, the NHC in the United States warned that A new tropical storm has formed in the Gulf of Mexico, which can turn into a hurricane. A number of oil companies have already started the evacuation of its workers from this zone, writes Reuters. The upcoming meeting this week also has an impact on the quotes OPEC +. It will announce the current results of the alliance on reduction in production, which will be estimated by the players - against the background of the fact that now the demand for oil is recovering at a slower pace, this information will receive special attention. In addition, optimistic market participants inspired by news of a coronavirus vaccine trial. According to AxiCorp analyst Stephen Iness, they are pushing quotes up, even despite the uncertainty around recovery of the global economy.