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Hurricane Harvey: Oil up as US rigs brace for biggest storm in a decade

Firms have pulled workers from offshore oil platforms and halted onshore drilling in south Texas

Reuters  |  London 

Oil prices rose on Friday as the US petroleum industry braced for Hurricane Harvey, which may become the biggest storm to hit the US mainland in more than a decade. Harvey became a category 2 storm as it crossed the Gulf of Mexico with winds of 105 mph (169 kph), 220 miles (355 km) off Corpus Christi, Texas, the National Hurricane Center said. The hurricane is forecast to make landfall late Friday or early Saturday between Corpus Christi and Houston, both important oil refining centres. US light crude, also known as West Texas Intermediate or WTI, was up 40 cents at $47.83 a ...

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First Published: Fri, August 25 2017. 15:55 IST