Oil prices rise towards $41

Oil rose on Tuesday towards $41 a barrel as oil companies shut down some US Gulf of Mexico oil output due to a hurricane, although surging coronavirus infections and rising Libyan supply limited gains.

Companies including BP, Chevron and Equinor ASA evacuated rigs, and so far producers have shut 16%, or 293,656 barrels per day (bpd) of oil output due to Hurricane Zeta.

PetroNeft Resources plc (LON:PTR) is an international oil and gas exploration and production company, focussed on Russia. The company’s s shares are listed on the London AIM and Dublin ESM Markets.

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