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Crude Oil is holding steady around the $42.50 per barrel line, even as back-to-back storms threaten to crimp US Oil production in the Gulf of Mexico.Hurricane Marco is set to make landfall in the state of Louisiana on Monday, with the larger and potentially more damaging Tropical Storm Laura following hot on Marco’s heels. About 58 percent of Oil output and 45 percent of natural gas production in the Gulf of Mexico have already been shut, according to the US Department of the Interior.Although hurricanes are an annual phenomenon for these oil platforms, to have two in quick succession... Read More
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