Global Markets: Oil jumps as Gulf rigs evacuated

Oil prices rose sharply to start September, fueled by the evacuation of two Anadarko (NYSE:APC) platforms in the Gulf of Mexico ahead of the approach of Hurricane Gordon, while ExxonMobil warned of a supply crunch in Nigeria.

In addition, “with ship-tracking data now pointing at a reduction in Iranian exports, renewed strife in Libya, and Venezuelan export availability hobbled by an accident at the key Jose terminal, the list of bullish headlines is getting longer,” said Michael Dei-Michei, head of research at JBC Energy.

Crude futures +1.8% to $71.07/bbl.

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