Date: 11 months ago   Category: Financial

Oil has fallen in price by dollar in a day because of a storm


Because of the storm Gordon production of oil in the Gulf of Mexico has decreased by 9,23%. Experts wait for data on stocks in the USA. Prices of oil fall on Wednesday, September 5 as the storm Gordon in the Gulf of Mexico hasn't led to large-scale destructions and begins to weaken, Interfax Ukraine writes. So, the price of November futures for Brent at the London's ICE Futures Exchange has decreased by $0,83 (1,06%) - up to $77,34 for barrel. The cost of the future for WTI for October at the trading of the New York Mercantile Exchange (NYMEX) has gone down for $0,88 (1,26%) by this time - to $68,99 for barrel. As weather forecasters report, the storm Gordon has reached the coast to the west from border of states Mississippi and Alabama and promptly weakens in process of advance far inland. Earlier oil-extracting companies have suspended production on platforms in the Gulf of Mexico because of bad weather. According to the American Bureau on safety issues and environmental control, production of oil in the Gulf of Mexico has decreased approximately by 9,23%, or by 156 thousand barrels a day. The attention of participants of the oil market switches to fuel reserves in the USA, data on which will be published on Thursday, one day later the Labor Day, usual in connection with celebration. We will note, the day before the price of Brent oil has exceeded $79 for barrel for the first time since July 10. Also increase in prices for oil was influenced by decrease in export from Iran to a minimum more than in two years. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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