Oil prices rose by about 2% on Thursday after China suspended exports of oil products, which may lead to a shortage in fuel markets that are already suffering from a global supply shortage, while investors continued to assess the renewed diplomatic efforts aimed at ending the war between the United States and Iran.
By 0829 GMT, the Brent crude contract for December, the nearest month contract, was $100.09 per barrel, up 2.1% or $2.06 compared to Wednesday's close. The November contract closed at $103.50 per barrel on Wednesday, bringing its monthly gains to about 14% in September for the nearest month contract.
