Oil advances on increased risk appetite

Output remains inhibited in the Gulf of Mexico following two hurricanes.

Photo: Jan Unger

Oil prices continue their surge Thursday morning upon increasing fuel demand and diminishing crude stockpiles as output remains inhibited in the Gulf of Mexico following two hurricanes.

Reuters reports that the market is underpinned by a big shift back into risk assets after reduced concerns over a major collapse at Chinese property developer China Evergrande and its potential ramifications for the world's second-largest economy.

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