Oil prices slipped on Wednesday after the IMF lowered its global growth forecasts, but markets were supported as Hurricane Michael moved toward Florida causing the shutdown of nearly 40 percent of U.S. Gulf of Mexico crude production. Brent crude LCOc1 was down 20 cents at $84.80 a barrel by 0915 GMT after a 1.3 percent gain on Tuesday. U.S. light crude CLc1 was down 15 cents at $74.81. “Oil prices have stabilized for the moment – between a real and a metaphorical storm,” said Fiona Cincotta, senior market analyst at City Index. “Hurricane Michael is powering ahead toward the Gulf of Mexico but it now seems likely to miss the main production areas there. On the other hand, Iran sanctions are only weeks […]