Oil showing mixed results

Brent became cheaper to 52.55 per barrel, WTI price rose to 47.42 USD per barrel.

World oil prices on Monday, September 4, move in different directions. So, the American brand WTI continues to rise due to production cuts in the Gulf of Mexico, while Brent reduced in price on the news about the test of a hydrogen warhead in North Korea, according to the auction.

As of 8.18 in Kiev the price of November futures for North sea petroleum mix of mark Brent has decreased on 0,42% – to 52.55 a dollar per barrel. The price of October futures for oil of mark WTI has grown on 0,27% – to 47.42 USD per barrel.

Rising prices for us oil last week was associated with reduced production on the Gulf coast, where on 17 September came tropical storm “Harvey”. “Harvey” became the most destructive hurricane in the U.S. over the past 12 years, since the country in 2005 was hurricane Katrina, which led to the flooding of New Orleans.

As a result of hurricane as of Friday, 10 refineries with a total capacity of 3,075 million barrels per day remained shut due to the effects of the disaster. In addition, four refineries with a total capacity of 1,105 million barrels per day worked not in full force. In addition, the oil production in the Gulf remains reduced by 5.5%, or 96 thousand barrels per day, according to the Bureau of safety and environmental USA.

© 2017 – 2019, paradox. All rights reserved.