Oil prices climb at close on supply worries
Oil prices rose at the close due to the approaching Hurricane Idalia near the northern Gulf of Mexico, leading to the shutdown of approximately 1.3 million barrels per day of oil production in American waters, which accounts for 62.9% of the region's output. Brent crude reached $104.72 per barrel, up 0.42%, while West Texas Intermediate (WTI) was at $91.85, up 0.39%. The market experienced fluctuations due to tensions related to oil shipments through the Strait of Hormuz, but prices are on track to achieve weekly gains.
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