Oil Prices Extend Losses as U.S. Producers Restore Output Post-Hurricane | Investing News

SINGAPORE (Reuters) – Oil prices dropped for a second straight session on Monday as U.S. producers began restoring output after Hurricane Delta weakened, while a strike that had affected production in Norway came to an end.

Brent crude

for December fell 55 cents, or 1.3%, to $42.30 a barrel by 0023 GMT and U.S. West Texas Intermediate

for November was at $40.08 a barrel, down 52 cents, or 1.3%.

Front-month prices for both contracts gained more than 9% last week, the biggest weekly rise for Brent since June, but fell on Friday after Norwegian oil firms struck a wage bargain with labour union officials, resolving a strike that threatened to cut the country’s oil and gas output by close to 25%.

“We had good support for both Brent and West Texas on the back of some supply concerns,” said Michael McCarthy, chief market strategist at CMC Markets in Sydney.

“Given

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Demonstrators call for state to extend moratorium on evictions and foreclosures

With the state moratorium on evictions set to expire on Oct. 17, nearly 100 protesters gathered outside the Park Street MBTA station at Boston Common on Sunday in support of a bill that would extend the ban.

The crowd surrounded a 6-foot sign reading, “Eviction Free Zone” and carried many handmade banners and placards supporting the bill, including several that said, “Stop 100,000+ Evictions.”

Advocates said the bill, which still needs to pass both branches of the Legislature and get approval by Governor Charlie Baker, would spare more than 100,000 households struggling due to the pandemic from displacement.

“We are just so anxious about what’s going to happen after Oct. 17,” said Lisa Owens, executive director of City Life/Vida Urbana, the tenants’ rights group that planned Sunday’s event.

“This is a crisis we can avert,” she said in a phone interview before the rally. “The clock is ticking,”

As the

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Wolf won’t extend state’s eviction moratorium, office says


HARRISBURG, Pa. (AP) — Gov. Tom Wolf’s administration reiterated Monday that he will not extend his executive order

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