Oil prices rose this morning over an anticipated fall in US crude stockpiles due to Tropical Storm Lee disrupting production in the Gulf of Mexico.
US crude rose by 42¢ to stand at $86.44 a barrel and Brent crude gained 47¢ to $113.36.
Oil production is facing a setback even though Tropical Storm Lee dissipated on Monday, reports Reuters.
Investors are expecting US President Barack Obama to announce new stimulus measures to boost the flagging US economy and to reduce concerns about falling demand for US crude.
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