Weekly Oil Gains Following Benchmark Dip Below $70 Amid Hurricane Impact

Friday, 13 September 2024, 11:22

Oil prices are on track for weekly gains after the global benchmark dipped below $70. Friday's futures rallied following Hurricane Francine's disruption to Gulf of Mexico output, though demand concerns persist. Market reactions reflect ongoing uncertainty in the energy sector.
Marketwatch
Weekly Oil Gains Following Benchmark Dip Below $70 Amid Hurricane Impact

Oil Market Performance Amid Hurricane Disruptions

Oil futures are indicating a strong recovery, bouncing back from multiyear lows. Hurricane Francine significantly impacted operations in the Gulf of Mexico, leading to supply challenges. This situation has led to a notable shift in market dynamics.

Demand Outlook Challenges

Despite the recent uptick in prices, uncertainties regarding global demand continue to linger. Analysts are observing the implications of these developments on future pricing trends.


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.


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