On Wednesday (Sep. 12) world oil prices extended Tuesday’s $2 surge, with Brent futures closing in on US$80 a barrel as Hurricane Florence advanced and U.S. sanctions started weighing on Iran’s exports, Reuters reported. News that Iranian crude exports have begun to decline well ahead of U.S. sanctions in November have been supporting prices in recent days as well. Nymex’s crude oil rose 0.87% to US$69.85 per barrel on Wednesday.

To subscribe please click here