(Bloomberg) — Oil traded near $42.50 a barrel as Laura was predicted to become a major hurricane, menacing crude production and refineries in the U.S. Gulf of Mexico close on the heels of an earlier storm.Futures in New York traded lower, while those in London edged higher. Tropical Storm Marco faded and safety warnings were dropped, but Laura is expected to make landfall on Thursday as a Category 3 hurricane with winds as strong as 115 miles per hour. Some 82% of oil output in the Gulf has been halted as operators braced for the weather systems to hit.Refinery closures …read more
Source:: Yahoo Finance
