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The price of oil closed higher after US companies announced the withdrawal of workers working on offshore drilling platforms
26/08/2017
Oil prices closed higher on Saturday after US oil companies announced they had withdrawn their workers on offshore drilling platforms and halted drilling on land in southern Texas due to Hurricane Harvey.
"Crude oil futures for the September delivery of the New York Mercantile Exchange rose 33 cents, or 0.70 percent, to trade at $ 47.76 a barrel," Reuters said.
Brent crude for October delivery rose 35 cents, or 0.67 percent, to trade at $ 52.38 a barrel.
Oil prices have been under pressure since the US Energy Information Administration's weekly report on Wednesday, but news of Hurricane Harvey's impact on oil production in the United States has pushed prices back higher. The hurricane has intensified since Thursday, possibly the most powerful hurricane in the United States in 12 years. The hurricane is now heading to areas between Houston and the coastal area of Corpus Christi, Texas.
The weekly report released on Wednesday showed crude oil inventories fell 3.3 million barrels last week, the eighth weekly decline in a row.
http://aletejahtv.org/permalink/178566.html
26/08/2017
Oil prices closed higher on Saturday after US oil companies announced they had withdrawn their workers on offshore drilling platforms and halted drilling on land in southern Texas due to Hurricane Harvey.
"Crude oil futures for the September delivery of the New York Mercantile Exchange rose 33 cents, or 0.70 percent, to trade at $ 47.76 a barrel," Reuters said.
Brent crude for October delivery rose 35 cents, or 0.67 percent, to trade at $ 52.38 a barrel.
Oil prices have been under pressure since the US Energy Information Administration's weekly report on Wednesday, but news of Hurricane Harvey's impact on oil production in the United States has pushed prices back higher. The hurricane has intensified since Thursday, possibly the most powerful hurricane in the United States in 12 years. The hurricane is now heading to areas between Houston and the coastal area of Corpus Christi, Texas.
The weekly report released on Wednesday showed crude oil inventories fell 3.3 million barrels last week, the eighth weekly decline in a row.
http://aletejahtv.org/permalink/178566.html
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