Oil prices rose around 2 per cent after China suspended oil products exports, potentially tightening fuel markets already coping with supply shortages globally, while investors continued to assess renewed diplomatic efforts to end the US-Iran war, Reuters reports.
The new front-month December Brent crude futures contract traded at $100.09 per barrel at 0829 GMT, up 2.1pc, or $2.06, from Wednesday’s close. The November contract expired on Wednesday, settling at $103.50 per barrel, marking a monthly gain of around 14pc in September for the front-month contract.
US West Texas Intermediate crude was up $2.06, or 2.28pc, to $92.48 a barrel.
