Read more about Oil prices fall as storm-hit US supply trickles back into market on Business Standard. Oil prices fell on Friday as energy companies in the US Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output
NEW YORK (Reuters) – fell on Friday as companies in the U.S. Gulf of Mexico restarted production after back-to-back hurricanes in the region shut output. futures fell 33 cents to settle at $75.34 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell 64 cents to settle at $71.97 a barrel. For the week, Brent was up 3.3% and U.S. crude was up 3.2%, supported by tight supplies due to the hurricane outages. Friday’s slump followed five straight sessions of rises for Brent.
