Oil rose in price during trading on Monday

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During trading on Monday, oil prices rose on fears that the hurricane Florence, threatening the eastern coast of the United States, could prove to be one of the strongest this year, although the main oil producing areas in the Gulf of Mexico may remain unaffected. Traders are also concerned about the likely reduction in oil supplies from Iran amid information that South Korea has already stopped buying Iranian oil, fulfilling the demands of the US president. By 14:22 Moscow time on Monday, November futures for Brent crude went up by 58 cents to 77 dollars 41 cents per barrel. The cost of the October WTI futures contract rose 45 cents to 68 dollars 20 cents a barrel.

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