Reported 17 days ago
Oil prices experienced a slight decrease as the threat posed by Hurricane Rafael to U.S. oil output diminished. Brent crude futures fell to $75.16 per barrel, and West Texas Intermediate crude dropped to $71.81. The U.S. National Hurricane Center anticipates that Rafael will weaken as it moves westward, leading to the gradual resumption of production. While prices had recently gained due to expectations of stricter sanctions on Iran and Venezuela from the incoming Trump administration, recent data indicating a drop in Chinese crude imports added pressure to the market.
Source: YAHOO