SINGAPORE, Aug 28 (Reuters): Oil prices rose more than 2% on Friday evening (Aug 27) and were on track for their biggest weekly gains in over a year as energy firms began shutting production in the US Gulf of Mexico ahead of a major hurricane expected to hit early next week.
Brent futures rose US$1.56, or 2.2%, to US$72.63 a barrel while US. West Texas Intermediate (WTI) crude rose US$1.48, or 2.2%, to US$68.90.
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