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October 10/2017

Hurricane Nate Keeps Oil Prices Perky

With Hurricane Nate shutting down 92% of oil production capacity in the Gulf of Mexico and OPEC insisting that the global markets are returning to balance, prices couldn't do much but remain stable.

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Brent traded at $55.84 a barrel at about 1 AM GMT and WTI was at $49.66.

OPEC's claims of a global market rebalance two weeks ago pushed prices up, with Brent almost reaching the coveted $60 a barrel

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oil, prices, hurricane Nate, Brent, WTI
 

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