TheNewsGuru

Tag: US output

  • Oil jumps above $41 as storm hits U.S. output

    Oil jumps above $41 as storm hits U.S. output

    —

    by

    Bayo Millz
    in

    Oil rose for a second day on Wednesday, gaining more than two per cent, as a hurricane closed U.S. offshore production and an industry report showed U.S. crude inventories unexpectedly decreased. More than a quarter of U.S. offshore output was shut on Tuesday due to Hurricane Sally. The American Petroleum Institute on Tuesday said crude…