Oil rises nearly 2% amid hurricane disruptions and US Fed rate cut hopes; brent crude Hits $73.01/barrel

New York/IBNS: Oil prices surged by nearly 2 percent on Monday (Sept. 16), buoyed by continued disruptions to U.S. Gulf Coast oil production, despite ongoing concerns about demand stemming from weak economic data from China.

Russia-Ukraine crisis: Brent crude reaches 13-year high of $139, drops later, says report

Oil prices levels since 2008 on Monday amid fears of market supply disruptions as the United States and European allies are considering a ban on Russian oil imports and hopes of the return of Iranian crude diminished, media reports said.