Oil prices rose more than 2% on Tuesday as Hurricane Florence approaches North Carolina and South Carolina and following news that Iranian crude exports have begun to decline significantly well ahead of US sanctions in November. The price of crude oil jumped 2.7% to US$69.5 a barrel and Brent climbed 1.9% to $79.0. While Nymex’s crude oil rose 0.9% to US$69.88 per barrel in Asian trading this morning.