πŸ‡ΊπŸ‡Έ

Tropical Storm Barry Approaches Louisiana - 3 Things to Know About Oil Prices

Credit: The Street
Published on July 12, 2019 - Duration: 00:35s

Tropical Storm Barry Approaches Louisiana - 3 Things to Know About Oil Prices

Tropical Storm Barry is approaching Louisiana, threatening to decimate a large chunk of the U.S. oil supply.

Brent crude oil prices rose 0.26% Friday, to $66.78 a barrel.

Here's what oil investors need to watch: Chevron , Exxon Mobil , British Petrolium and Royal Dutch Shell all evacuated staff from rigs in the gulf area.

The gulf area represents roughly 20% of all U.S. oil output, so a huge chunk of supply is threatened, bringing the price of oil up.

The International Energy Agency said oil demand growth will remain a key area of focus.

The agency mentions that as global manufacturing output has declined, an issue Federal Reserve Chairman Jerome Powell flagged in his hearing with Congress.

TheStreet's Martin Baccardax has the full story on Barry and oil.

BP is a holding in Jim Cramer's Action Alerts PLUS member club.

Want to be alerted before Jim Cramer buys or sells BP?

Learn more now.

Advertisement

You are here

Recent related videos from verified sources

Jim Cramer: Here's What It's Going to Take to Make Oil Investable 01:00
Credit: The Street - Published on July 22, 2019 

You might like