Sandra Brown 9/17/2020
Oil in the world went up in price due to a hurricane in the U.S.
Hurricane Sally paralyzed Texas oil companies, suspending approximately 27% of oil production and 28% of gas production in the region.
World oil prices rose amid news of tropical hurricane Sally, which hit the southeast coast of the United States near the Gulf of Mexico on September 15. This was reported on Thursday, September 17, by trading data at the London Stock Exchange ICE.
The cost of the futures contract for November delivery of Brent oil rose by 2.3% to $43.21 per barrel. The price of American WTI oil with delivery in October also increased by 2.3% to $41.07.
Hurricane Sally paralyzed Texas oil companies, suspending about 27% of oil production and 28% of gas production in the region.
Recall that world oil prices jumped on September 16 at the U.S. stockpile statistics. The value of the November futures for Brent oil on the London ICE exchange rose by 3.6% to $42 per barrel.
TAGS: OIL, OIL PRICES, IN WORLD