Global crude oil prices rise to 5-month high

Global crude oil prices have risen to a five-month high as US producers shut most offshore output in the Gulf of Mexico ahead of Hurricane Laura. Brent futures, the global benchmark for crude oil, rose 73 cents, or 1.6 percent, to 45.86 a barrel US dollar, while US West Texas Intermediate crude rose 73 cents, or 1.7 percent, to settle at 43.35 per barrel US dollar. That puts both benchmarks on track to settle at their highest since March 5.