Oil Futures Rise on Middle East Tensions, U.S. Gulf Storm
Dow Jones
Yesterday
1033 ET - Oil futures are higher in early U.S. trading with continuing tensions in the Middle East and the market watching the storm heading for the U.S. Gulf coast. Tropical Storm Isaias is expected to be a hurricane when it reaches the U.S. coast late Friday, according to the National Hurricane Center, although the projected path has shifted east of the main oil-producing areas. Consulting firm Earth Science Associates estimates the storm could result in shut-in production of about 11.2 million barrels of oil and 13.3 billion cubic feet of natural gas. Front month WTI is up 0.6% at $89.98 a barrel and Brent gains 1.2% to $101.76 a barrel.
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