Brent and US crude oil futures rallied by around 2% today, as traders intensified their watch over newly formed Tropical Storm Katia.
The storm was strengthening over the eastern Atlantic and was expected to become a hurricane by late tomorrow or Thursday, the US National Hurricane Centre said.
In London, ICE Brent for October delivery posted a session high of $113.99, up $2.11, or 1.88%, the highest since August 3's intraday peak of $116.29.
On the New York Mercantile Exchange, crude for October delivery climbed to a session high of $89.06, gaining $1.79, or 2.0%. It was the highest since the August 4 intraday peak of $92.59.
