💨 Abstract

Oil prices declined by over 2% on Friday as traders became less concerned about extended supply disruptions from a hurricane in the U.S. Gulf of Mexico. The decline was led by U.S. West Texas Intermediate futures, down 2.8%. Brent crude futures also dropped by 2.3%. The decline was attributed to reduced risks to oil production in the U.S. Gulf and disappointment with China's economic stimulus packages.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖