Oil prices dropped on Friday, on fears that energy demand would be affected hard as Hurricane Irma, one of the most powerful storms in a century, headed toward Florida and the Southeast.�
read more... 11/09/2017
U.S. oil prices rose on Tuesday and gasoline declined as the gradual relaunch of refineries in the Gulf of Mexico that were closed by Hurricane Harvey increased demand for crude and reduced worries of a fuel supply crunch.
read more... 06/09/2017
Oil prices rose on Friday, supported by a decline in the U.S. crude oil stocks last week, as refineries raised output with the approach of Harvey. Natural disasters are generally negative over the medium-term due to demand destruction, but in the short term the market reacts to the shortage of supply. Brent crude edged 0.7% up to settle at $52.75, while the WTI price grew by 0.13% at $47.29 a barrel.
read more... 04/09/2017
Oil prices rose slightly on Thursday, contrary to the expectations of the OPEC, as oil traders focused more on Hurricane Harvey’s hit on oil demand than the impact of supply disruptions. For some veteran OPEC officials, Hurricane Harvey’s impact on global oil markets was quite strange, as the storm has led to some of the biggest disruptions to U.S. energy infrastructure, but failed to boost strongly the crude prices. Brent crude ended $1.52, or almost 3% up at $52.38, while the WTI price grew by 2.76% at $47.23 a barrel.
read more... 01/09/2017
Oil prices dropped on Wednesday as flooding from Tropical Storm Harvey knocked out approximately a quarter of U.S. refineries, leading to a decline in demand for crude. Brent crude ended $1.14, or 2.2%, down at $50.86. Meanwhile, WTI price decreased by 1.1% to $45.96 a barrel.
read more... 31/08/2017