[Oil Prices] Edge Up Slightly as Tanker Is Hit in Strait of Hormuz, Gulf of Mexico Crude Production Disrupted

[Financial News]  

International oil prices closed slightly higher on the 9th (local time).
Prices fell early after U.S. President Donald Trump said there would be no attack on Iran before the midterm elections on the 3rd of next month, but ultimately ended the session slightly higher.
December-delivery Brent crude, the international benchmark, settled at $104.72 a barrel, up 0.42% from the previous session.
The November contract for West Texas Intermediate (WTI), the U.S. oil benchmark, finished trading at $91.85 a barrel, up 0.39%.
Prices, which had been falling early in the session, turned higher on reports that attacks on tankers had reached their highest level since the Iran war broke out on February 28, as Iran tightened its control of the Strait of Hormuz.
Concerns that approaching hurricane conditions could disrupt crude production in the U.S. Gulf of Mexico also contributed to the rise in oil prices.
The gains were limited, however, after President Trump secured an agreement to resume Russian diesel exports in a phone call that day with Russian President Vladimir Putin.
Trump said Russia would immediately export 300,000 metric tons of diesel first, then supply 500,000 metric tons to global markets next month and 1 million metric tons soon after.

[email protected] Song Kyung-jae Reporter