Crude oil prices made a more than 1% gain on Thursday while drillers in the Gulf of Mexico braced for the impact of Hurricane Rafael.
Traders also consider how the energy policies of President-elect Donald Trump might affect oil supplies. The day’s increase in prices was the opposite of what happened Wednesday when the election of trump innitially sparked a sell-off that sent prices down more than $2 a barrel.
West Texas Intermediate crude went up $1.06 or 1.48% to finish at $72.75 per barrel on the New York Mercantile Exchange.
Brent crude, the global benchmark, rose $1.05 or 1.4% to settle at $75.97 a barrel.
The big gains made Wednesday by Oklahoma energy stocks were hit by losses on Thursday, including Unit Corporation with a 6% drop. A few firms continued with gains including SandRidge with a 4% increase and Vital Energy up 5%.
