West Texas Intermediate is trading lower as traders monitor how Beryl will affect refining, production and export infrastructure.
U.S. crude oil futures fell nearly 1% Monday as traders monitored the impact of Hurricane Beryl on Gulf Coast refining, production and export infrastructure.
Beryl made landfall near Matagorda, Texas as a Category 1 hurricane with maximum sustained winds of 80 miles per hour, according to the National Hurricane Center. Matagorda is about 150 miles northeast of Corpus Christi, a leading crude export facility in the U.S.
U.S. crude oil closed lower on Friday while still booking a fourth consecutive weekly gain, as traders took advantage of recent prices after the benchmark touched a two-month high of $84.52 per barrel.
