A satellite image taken on September 4, 2021 shows a closer up view of oil slicks on the water near the East Timbalier National Wildlife Refuge in Louisiana, U.S., in the aftermath of Hurricane Ida. Reuters/Maxar
NEW YORK: Oil prices jumped on Wednesday and settled up more than 1% as U.S. Gulf of Mexico producers made slow progress in restoring output after Hurricane Ida.
Brent settled up 91 cents, or 1.3%, at $72.60 and U.S. West Texas Intermediate (WTI) crude settled up 95 cents, or 1.4%, to $69.30 a barrel.
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