Oil prices advance on hurricane shutdowns and stockpile decline

A hurricane has halted US oil production, helping to send oil prices surging.

Photo: Jacob Ehrbahn

Wednesday, oil prices continue the upward trend seen on Tuesday, as a hurricane has disrupted US oil and gas production at sea and a market report revealed a steep decline in the country's crude inventories.

More than 25 percent of US offshore oil and gas production shut down on Tuesday, as hurricane Sally rages just off the country's coast along the Gulf of Mexico.

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