Global crude oil prices rose 3 percent this week as energy companies in the US Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output.

Brent crude futures rose 3.3 percent during the week to settle at 75.34 dollars a barrel yesterday.

US crude futures was up 3.2%, supported by tight supplies due to the hurricane outages.

On Wednesday, Brent hit its highest since late July, and US crude hit its highest since early August.

Gulf Coast crude oil exports are flowing again after hurricanes Nicholas and Ida took out 26 million barrels of offshore production.
Restarts continued with about 28% of U.S. Gulf of Mexico crude output offline.

US energy firms this week added oil and natural gas rigs for a second week in a row although the number of offshore units in the Gulf of Mexico remained unchanged after Hurricane Ida slammed into the coast over two weeks ago.