U.S. crude oil prices fall nearly 1% as market tracks path of Hurricane Beryl
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 08 2024
0mins
Source: CNBC
- U.S. Crude Oil Futures: Fell nearly 1% due to Hurricane Beryl's impact on Gulf Coast infrastructure.
- Hurricane Beryl Impact: Made landfall in Texas, affecting oil production and export facilities.
- Energy Prices: U.S. crude oil closed lower after recent gains, with Shell shutting down production in the Gulf of Mexico.
- Consumer Impact: Minimal effect expected on gasoline supply and prices during the storm.
- Gasoline Prices: Expected to rise slightly post-storm, but unlikely to reach $4 per gallon unless significant events occur.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
