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Typhoon Erma is hurting oil prices
11:52 - 07/09/2017
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11:52 - 07/09/2017
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Information / Baghdad ..
Oil fell on Thursday on fears of disruption of oil shipments to and from the United States due to hurricane Erma in the Caribbean as well as the start of recovery of Libyan production after a period of unrest.
WTI fell 14 cents to $ 49.02 a barrel but is still near a three-week high of the previous session.
London Brent crude <CLc1> fell 26 cents to $ 53.94 a barrel, although it is still close to the May highs and reached the previous session.
Oil facilities in the Gulf Coast region are gradually recovering from the devastating effects of Hurricane Harvey, which hit Louisiana and Texas nearly two weeks ago, and shut down important infrastructure in the heart of the US oil and gas sector.
As of Wednesday, about 3.8 million barrels of refineries' daily production capacity or about 20 percent was idle, although a range of refineries as well as oil trading ports began to resume operations. Ending / 25
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