10/2, 1:36 PM (Source: TeleTrader)
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Oil prices rise on demand hopes

Prices of oil futures increased on Monday after OPEC Secretary General Haitham al-Ghais argued against halting investments in the energy sector as the group he chairs expects oil demand to remain "quite resilient."

He described energy security as the "cornerstone of global economic prosperity."

West Texas Intermediate (WTI) for settlements in November was up 1.02% to $91.72 per barrel and Brent for deliveries in December rose by 1.10% to $93.22 per barrel at 7:25 am ET.

Baha Breaking News (BBN) / MS