Brent crude crosses $40, WTI gains 2%

09/09/2020 Argaam

Oil prices rose on Wednesday, recouping some of the losses recorded over the last session despite increasing uncertainty over global economic recovery. 

 

A report by Petroleum Equipment and Services Association said that job losses in US oilfield services exceeded 100,000 in August, indicating uncertainty in the energy sector.

 

Brent crude futures for November delivery rose 1.5% to $40.37 a barrel, while US WTI crude for October delivery climbed 2.1% to $37.54 a barrel.

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