World crude oil prices fall after hurricanes hit oil production fields in Texas. Market fears supply disruption

World crude oil prices dropped after a hurricane hit an oil production center in Texas. Market fears supply disruption But recently the damage was found to be not as severe as expected.

On July 9, 2567, Reuters news agency reported that world oil price decreased today After Hurricane Beryl hit an oil production center in the US state of Texas. and create concerns about supply disruptions. However, The damage from the hurricane was not as severe as the market expected.

Brent crude futures fell 22 cents to $85.53 a barrel. Meanwhile, West Texas crude futures fell 24 cents to 82.09 US dollars per barrel.

Mr. Yeap Jun Rong, market strategist at IG, said oil prices dropped in today's trading. Meanwhile, investors are keeping their eyes peeled for progress in ceasefire negotiations in the Middle East. and at the same time Markets initially expected that Hurricane Beryl's impact on supply disruptions would be severe. But it turned out not as much as I thought.

Hurricane Beryl has now weakened. Several large refineries along the Mexican coast were less affected. Even the operations of many refineries have been halted. And some workers were evacuated to escape the storm. In addition Preliminary information indicates that most of the energy infrastructure was not damaged.

Fuel ports in several major Texas cities were closed ahead of the storm's arrival. It will reopen next Monday (July 15) and the Port of Houston will reopen next Tuesday (July 15).

refer : reuters.com

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