 "Oil gains on storm-hit U.S. output and COVID-19 treatment hopes")
Crude oil prices rose on Monday as storms closed in on the Gulf of Mexico, shutting more than half its oil production, and on signs of progress in development of a Covid-19 treatment.
Brent crude was up 32 cents, or 0.7 per cent, at $44.67 a barrel by 0753 GMT. US West Texas Intermediate crude rose 31 cents, or 0.7 per cent, to $42.65.
"Prices are taking their cues from Mother Nature this morning as two storms bear down on the Gulf of Mexico. Half of the region's production has been shut down, though gains will be limited by the
