Oil Rises Due To Forest Fires In Canada
Time: 05/15/2024 07:31:01 Read: 1,391 times {Economic: Al-Furat News} Oil prices rose in early trading on Wednesday, with major forest fires threatening the oil sands region in Canada and the market expecting a decline in US crude oil and gasoline stocks later today.
Brent crude futures rose 34 cents, or 0.4%, to $82.71 per barrel. US West Texas Intermediate crude futures rose 38 cents, or 0.5%, to $78.39 a barrel by 00:16 GMT.
A huge wildfire was approaching Fort McMurray, the center of Canada's oil sands industry, with production of about 3.3 million barrels per day, or two-thirds of the country's total production, and thousands in the suburbs were asked to evacuate. LINK
No comments:
Post a Comment