Oil prices fall after US producers dodge worst of Hurricane Laura – By Reuters Staff (Al Jazeera) / Aug 28 2020
The storm struck Louisiana, damaging buildings and cutting power, but sparing oil refineries from heavy flooding.
Oil prices fell on Friday as a massive storm raced inland past the heart of the United States’s oil industry in Louisiana and Texas without causing any widespread damage to refineries.
US West Texas Intermediate (WTI) crude futures were down $0.03, or 0.1 percent, to $43.01 a barrel as of 04:09 GMT.
WTI is on track to rise 1.6 percent this week for a fourth straight week of gains.
Brent crude futures for October, set to expire on Friday, rose $0.02 to $45.11 a barrel, heading for a 1.7 percent weekly gain. The more active November contract climbed $0.03 to $45.63.
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