Prices fuctuate as Hurricane Laura hits US

摘要

Global crude prices climbed ahead of Hurricane Laura making landfall in the US, but slid back after the storm’s efects on production and refining capacity proved less severe than initially feared. Atlantic basin benchmark North Sea Dated rose to a fve-month high of $45.96/bl in the days before Laura arrived, but closed at $44.81/bl on 27 August, a rise of 50￠/bl on the week. The front-month contract for US marker WTI climbed by 46￠/bl to $43.04/bl, after reaching a high of $43.39/bl earlier in the week. Mideast Gulf benchmark Dubai rose by 44￠/bl to $44.08/bl.