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الوطن
Oil's 13.6% monthly gain
Oil prices rose during October, posting monthly gains of 13.6% for Brent crude and 15.2% for West Texas Intermediate. The December Brent contract closed at $117.64 per barrel, up 2.4%. The rise came amid concerns about the security of supplies, following reports of a security incident involving a tanker in the Strait of Hormuz and the resulting risks to shipping and higher insurance costs. Some of the gains reflect a supply risk premium rather than a comparable increase in demand, while higher oil and transportation costs could be passed on to the transport and industrial sectors and to goods prices.
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