Oil Rises, Brent Set for Monthly Gains of Around 14%

Singapore, September 30 (QNA) – Oil prices rose on Wednesday after falling in the previous session on a recovery in crude supply from the Middle East.

Brent crude futures rose $1.14, or 1.11%, to $103.73 a barrel, and US West Texas Intermediate (WTI) crude gained 34 cents, or 0.38%, to $89.72.

Brent is headed for a monthly gain of around 14%, its biggest climb since July, while WTI is on track for a 4% rise after having breached $106 for the first time since May.

The spread between the two benchmarks this month also expanded to its widest in four months. (QNA)