Oil Falls Back Toward $40 as Supply Constraints Begin to Ease

(Bloomberg) — Oil slipped a second day as operations in the Gulf of Mexico began to resume following Hurricane Delta, Libya stepped up plans to restart production and oil workers in Norway called off a strike.Futures in New York fell as much as 0.9%, after declining 1.4% on Friday. U.S. Gulf operators are beginning to restart production after the storm made landfall on Friday. Delta’s approach had seen about 92% of oil production and 62% of gas output shuttered.Libya took a major step toward reviving its battered oil industry by reopening its biggest field. The Sharara field will initially pump …read more

Source:: Yahoo Finance

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