Oil futures got a lift Tuesday as Hurricane Sally neared landfall, forcing the shutdown of more than a quarter of offshore Gulf of Mexico crude production and a number of refineries.
Rising worries over energy demand served to limit the upside for oil prices, prompting them to finish off the day’s best levels.
The center of Hurricane Sally is expected to pass near the coast of southeastern Louisiana Tuesday and make landfall late in the day or early Wednesday, the National Hurricane Center said in a Tuesday afternoon update. “Historic, life-threatening flash flooding is likely” along portions of the northern Gulf Coast.
PetroNeft Resources plc (LON:PTR) is an international oil and gas exploration and production company, focussed on Russia. The company’s s shares are listed on the London AIM and Dublin ESM Markets.