Oil prices jumped on Tuesday as dozens of US oil and gas platforms in the Gulf of Mexico were shut in anticipation of damage from tropical storm Gordon. Photo: BloombergSingapore: Oil prices fell on Wednesday as a tropical storm hitting the US Gulf coast weakened and had a lower impact on production than initially expected. US West Texas Intermediate (WTI) crude futures were at $69.14 per barrel at 0642 GMT, down 73 cents, or 1%, from their last settlement. International Brent crude futures fell 60 cents, or 0.8%, to $77.57 a barrel. “If emerging markets get worse ... that will impact crude markets,” he said.

Source: Mint September 05, 2018 07:18 UTC