News: U.S. Crude Oil Hits $68 as Francine Disrupts Gulf Production
Thursday, 12 September 2024, 05:55
Impact of Hurricane Francine on U.S. Crude Oil Production
Recent news reveals that U.S. crude oil has increased by over 1% following significant disruptions caused by Hurricane Francine. Estimates by UBS suggest that Francine may have interrupted up to 1.5 million barrels of production in the Gulf of Mexico, creating ripples in the energy market.
Current Market Response
- As a result, U.S. crude oil prices jumped to trade above $68 per barrel.
- This disruption showcases how natural events can swiftly alter market conditions.
- The market awaits further updates on recovery and production rates.
For continuous updates on the energy markets, stay tuned to our news sources.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.