Crude oil futures ended higher on Thursday amid reports of supply cuts in facilities along the Gulf of Mexico due to the impact of Hurricane Francine. According to an estimate by private report, hurricane Francine may have disrupted up to 1.5 million barrels of U.S. crude production. Meanwhile, investors noted the European Central Bank's decision to lower interest rates by 25 basis points for the second time this year.
Benchmark crude oil futures for October delivery rose $1.66 or 2.5 percent to settle at $68.97 a barrel on the New York Mercantile Exchange. Brent crude for November delivery gained $1.36 or 1.92 percent to settle at $71.97 a barrel on London's Intercontinental Exchange.