Brent rises to $101.50 as a Gulf of Mexico storm threatens 15% of US crude output and fighting flares in Yemen
Brent crude for December rose 0.9% to $101.50 a barrel on October 7 and US benchmark WTI 0.8% to $90.12. A tropical system in the Gulf of Mexico is strengthening on a path towards Louisiana and Mississippi and is forecast to become the first Atlantic…
Why it matters: India imports most of its crude, so each dollar on Brent raises the import bill and the cost base of fuel retailers, airlines, paint and tyre makers, while refiners' margins move with the gap between crude and product prices. A Gulf Coast…