Brent oil rises above $75

Oil prices accelerated their rise as US private sector data pointed to a decline in crude oil and gasoline inventories.

Crude oil inventories decreased by 5.44 million barrels last week, according to data from the American Petroleum Institute.

After hurricane Ida, oil producers in the US are now preparing for hurricane Nicholas to turn into a tropical storm and disrupt production again.

While the International Energy Agency predicts a strong recovery in global demand for the remainder of the year, another hurricane hit on the supply side is pushing oil prices higher.

Brent oil price saw its highest level since July at $75.57.