Oil Prices Rise as Storms Approach U.S. Coast

By Anonymous

Inventory data will shed light on supply concerns amid declines in global stockpiles caused by sanctions on Iran

Oil prices were higher Wednesday as investors monitor tropical storms heading toward the U.S. East Coast that could disrupt oil production in the Gulf of Mexico.

Oil markets already had received a boost from bullish data on U.S. inventories and production published Tuesday.

Brent crude, the global oil benchmark, was up 0.1% to $79.10 a barrel...