Oil Prices Jump As Hurricane Florence Adds To Supply Concerns
- 6 years ago
Crude prices jumped nearly 3% on Tuesday as Hurricane Florence headed for the east coast.
The Category 4 hurricane is due to make landfall in the Carolinas and Virginia later this week. The hurricane could last multiple days and cause "catastrophic" flash flooding and winds. The hurricane has forced more than 1.5 million people to evacuate their homes.
Last week, tropical storm Gordon shut in oil production in the Gulf of Mexico for several days.
The Category 4 hurricane is due to make landfall in the Carolinas and Virginia later this week. The hurricane could last multiple days and cause "catastrophic" flash flooding and winds. The hurricane has forced more than 1.5 million people to evacuate their homes.
Last week, tropical storm Gordon shut in oil production in the Gulf of Mexico for several days.