15 Sep by Vitaliy Dadalyan

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Oil rises as storm closes U.S. production, inventories drop

Oil rises as storm closes U.S. production, inventories dropOil prices rose for a second day on Wednesday as a hurricane closed U.S. offshore oil and gas production and an industry report showed a decrease in U.S. crude inventories. Brent crude rose 60 cents, or 1.5%, to $41.13 a barrel by 0518 GMT, while U.S. crude rose 68 cents, or 1.8%, to $38.96. More than 25% of U.S. offshore oil and gas output was shut and export ports were closed on Tuesday as Hurricane Sally sat just off the U.S. Gulf Coast.

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