Oil gains as hurricane closes offshore US oil and gas production
A quarter of US Gulf of Mexico output is offline, with the API saying crude inventories have fallen by 9.5-million barrels
16 September 2020 - 12:00
London — Oil rose for a second day on Wednesday, gaining more than 2%, as a hurricane closed US offshore oil and gas production and an industry report showed US crude inventories decreased.
More than a quarter of US offshore output was shut on Tuesday due to Hurricane Sally. The American Petroleum Institute (API) said on Tuesday that crude inventories fell 9.5-million barrels, rather than increased as analysts expected...
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