Hurricane Nate knocks oil prices

Ураган Нейт сбивает цены на нефть

Oil is cheaper

Oil continues to become cheaper.

Oil prices continued to decline on fears of investors because of the approaching to the Gulf of Mexico hurricane Nate. As of Friday morning, October 6, the cost of the popular Brent crude fell 0.11% to 56,94 dollars per barrel, Prime reported.

Traders worried about the approaching tropical storm. The wind speed in the storm center reached 64 miles per hour. The storm is moving in a North-westerly direction at a speed of about 12 miles per hour.

In this regard, the company stopped the production of 14.55% of production capacity of oil and 6.4% of the gas in the Gulf of Mexico in the United States. While investors do not exclude that its work in the region will suspend and refineries, which will reduce the demand for raw materials.

As reported in the Caribbean sea, was born a new tropical storm, named Nate. He gains the force of a hurricane, and has caused the deaths of four people. Nate goes to the U.S. Gulf coast.