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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (92899)8/28/2020 1:15:20 PM
From: Goose94Read Replies (1) of 202843
 
Crude Oil: WTI Fall As Hurricane Fears Subside

Gulf of Mexico energy industry largely dodges Hurricane Laura. The concentration of energy assets along the Texas and Louisiana coast more or less avoided the worst-case scenario from Hurricane Laura. “The damage is not as bad as anticipated, which is creating more sell pressure along the energy complex,” said Phil Flynn, senior market analyst at Price Futures Group. More than 80 percent of oil output in the Gulf of Mexico and almost 3 million barrels a day of refining capacity had been shut ahead of the storm, most of which should come back online fairly quickly.
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