Hurricane Francine swept through the major oil-producing region in the Gulf of Mexico, raising concerns over extended production shutdowns. International crude oil prices increased on September 11.

According to the Bureau of Safety and Environmental Enforcement (BSEE), 39% of oil and 49% of natural gas production in the Gulf of Mexico were shut down as of Wednesday.

West Texas Intermediate (WTI) crude for October delivery increased by US$1.56 (2.37%), reaching US$67.31/barrel on the New York Mercantile Exchange.

Brent crude for November delivery rose by US$1.42 (2.05%), settling at US$70.61/barrel.