Reported 28 days ago
Oil prices steadied after a significant increase as Hurricane Francine affected production in the Gulf of Mexico, disrupting about 670,000 barrels a day. Brent crude remained around $71 per barrel, while traders are anticipating the International Energy Agency's analysis for insight into market conditions. Despite the hurricane's impact, concerns over weakening demand from China and the US slowed down have led to predictions of continued low prices, with some analysts suggesting Brent could remain in the $60 range.
Source: YAHOO