Oil Prices Stay Below $70 As Hurricane Dean Avoids Gulf Platforms

As hurricane dean is staying further south, the 4000 oil platforms in the Gulf are less at risk of damage than they were previously.

This has caused oil prices to stay below the $70 mark even though US crude oil prices were up 23 cents, they were still only at $69.80 per barrel.

As hurricane dean loses power and/or moves away from the oil platforms in the Gulf, oil prices fall.

Due to hurricane dean, some of the oil production has been shut down in the Gulf.

Are oil prices going to fall as hurricane dean dies out?

Source

CLICK HERE to keep updated with the latest news, share a comment or problems with products and services. Follow us on twitter or read more news.