West Texas Intermediate (WTI) crude oil closed lower on Friday, even with supply tight as Hurricane Francine shut in 42% of U.S. Gulf of Mexico production.
WTI crude for October delivery closed down US$0.32 to settle at US$68.65 per barrel, while November Brent crude, the global benchmark, was last seen down US$0.35 to US$71.72.
Prices have continued to rebound from three-year lows touched Tuesday on weak demand from China. However following Hurricane Francine's passage through the Gulf of Mexico 732,316 barrels per day of supply remain shut in, according the the U.S. offshore regulator.
Source: MT newswires
