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Oil weakens on fears Irma could dent U.S. demand

Reuters  |  LONDON 

By Ron Bousso and Fanny PotkinLONDON (Reuters) - Oil prices edged lower on Monday on concerns that Hurricane Irma's pounding of heavily populated areas of Florida could dent oil demand in the world's top oil consuming nation.Losses were capped by weekend talks between Saudi Arabia's oil minister and counterparts over a possible extension to a pact to cut global oil supplies beyond next March.Brent crude oil futures for November delivery were down 33 cents at $53.45 a barrel while benchmark U.S. West Texas intermediate crude advanced by 22 cents to $47.70.Hurricane Irma knocked out power to ...

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First Published: Mon, September 11 2017. 15:48 IST