Oil prices lift as output is cut in US Gulf Coast due to Tropical Storm Laura
Producers have shut more than 1.5-million barrels per day of Gulf Coast offshore oil production, nearly 14% of the nation’s total output
25 August 2020 - 14:11
London — Crude oil prices rose on Tuesday, supported by production cuts in the US Gulf Coast as Tropical Storm Laura was forecast to become a major hurricane, while rising coronavirus cases in Asia and Europe capped gains.
Brent crude oil futures added 37 US cents, or 0.82%, to $45.50 a barrel by 10.48am GMT and US West Texas Intermediate crude rose 15c, or 0.35%, to $42.77 a barrel...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.