Oil Markets Brace For Another Hurricane

7 Oct 2017   Prices

Oil prices fell from last week’s highs as investors pocketed gains. Not all hope is lost, however. Saudi Arabia and Russia just announced some promising news regarding the rebalancing of the oil markets. Friday, October 6, 2017 (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) Friday, October 6, 2017 Oil prices were soft this week as concerns about oversupply resurfaced and investors pocketed gains from the recent bull run. But positive comments from Saudi Arabia and Russia regarding their resolve to rebalance the oil market helped sooth worries about faltering prices. Gulf of Mexico oil production disrupted by storm. Tropical storm Nate is making its way through the Gulf of Mexico, forcing a range of oil producers to shut in production and evacuate staff. Nate is expected to strengthen into a hurricane before it makes landfall […]

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