LONDON (Reuters) – Oil costs hovered close to six-week highs on Friday and was on monitor for a weekly acquire as U.S. oil producers within the Gulf of Mexico lower greater than half their output due to a tropical storm and as tensions continued to simmer within the Center East.

FILE PHOTO: An oil pump is seen at sundown exterior Scheibenhard, close to Strasbourg, France, October 6, 2017. REUTERS/Christian Hartmann/File Picture

Nevertheless, an Worldwide Power Company (IEA) forecast for a worldwide oil surplus capped the good points. The company on Friday predicted that surging U.S. oil output will outpace sluggish international demand and result in a big shares construct across the…

Source link