Up $0;67 or 0.90% on the day
The price of WTI crude oil futures are settling the day at $74.96, up $0.67 or 0.9% on the day.
The price action was up and down as producers in the Gulf of Mexico shut down some of their production. Also, Iran’s crude exports fell ahead of the US sanctions against Iran. The fears are growing that the U.S. demands for an Iran oil embargo could cause a significant supply shortfall. US sanction go into place on November 4th.
The high reached $75.28. The low extended to $74.00.