Crude falls as Hurricane Beryl fears fade

Quick Summary:

Crude oil prices fell on Tuesday as fears faded that Hurricane Beryl would disrupt supplies as the storm will avoid most oil fields as it barrels toward Jamaica.

Gasoline inventories rose by 2.468 million barrels, and distillates fell by 740,000 barrels.

"Markets came to the realisation that Beryl is not going to shut down any major amounts of offshore oil production," Flynn said.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaJamaicaMexico

Topics: CrudeOil BrentCrude /Business/ WTICrude Commodities HurricaneBeryl OilPrices OilProduction

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-03 @ 07:38:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 359 words

Reading Time: 2 minutes read

Sentences: 19 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21465973

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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Year Established: 1971

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