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...
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