Oil benchmarks pulled in two different directions by hurricanes

12 Sep 2017   Prices

The mixed impact from hurricanes in the United States left the U.S. and global benchmarks for crude oil moving in opposite directions early Monday. Irma was downgraded to a tropical storm early Monday by the U.S. National Hurricane Center. Making landfall as a hurricane, it left millions of Florida residents without power and many of the regional airports were closed Monday because of heavy flooding. Though weakening as it makes its way northwest, the NHC forecast said Irma has a “very large wind field,” with hurricane-force winds extending outward as far as 60 miles. Southern Gulf Coast states, meanwhile, continue to pick up the pieces from Harvey, which struck a central part of the U.S. energy […]

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