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Oil falls back with Harvey hits
Oil markets tumbled on Monday after Hurricane Hurricane struck the Gulf Coast in the United States earlier this week, disrupting Houston and its ports, disrupting refineries and part of crude production.
Gasoline prices hit their highest level in two years as torrential torrential storms shut down refineries on the Gulf of Mexico coast.
In the crude markets, US crude futures fell as US refineries closed, reducing demand for US crude, and Brent also shed its gains from the closure of pipelines in Libya earlier this week.
Harvey, the most powerful cyclone to hit Texas in more than 50 years, has killed at least two people and caused torrential floods.
In global oil markets, Brent crude fell 7 cents, or 0.1 percent, to $ 52.34 a barrel.
Traders said Brent had earlier been supported by the closure of pipelines in Libya, disrupting crude supply.
US WTI fell 37 cents, or 0.7 percent, from the last settlement to $ 47.50 a barrel.
http://economy-news.net/content.php?id=8824
Oil markets tumbled on Monday after Hurricane Hurricane struck the Gulf Coast in the United States earlier this week, disrupting Houston and its ports, disrupting refineries and part of crude production.
Gasoline prices hit their highest level in two years as torrential torrential storms shut down refineries on the Gulf of Mexico coast.
In the crude markets, US crude futures fell as US refineries closed, reducing demand for US crude, and Brent also shed its gains from the closure of pipelines in Libya earlier this week.
Harvey, the most powerful cyclone to hit Texas in more than 50 years, has killed at least two people and caused torrential floods.
In global oil markets, Brent crude fell 7 cents, or 0.1 percent, to $ 52.34 a barrel.
Traders said Brent had earlier been supported by the closure of pipelines in Libya, disrupting crude supply.
US WTI fell 37 cents, or 0.7 percent, from the last settlement to $ 47.50 a barrel.
http://economy-news.net/content.php?id=8824
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