Oil Futures Take a Bounce Amid Gulf Coast Storm Fears
Oil markets gave a little lift today after investors loosened their grip on the sell‑off triggered by weak U.S. jobs data last week. The jitters? A possible storm brewing just off the Gulf Coast that could threaten crucial oil infrastructure.
Storm Talk & Pipeline Panic
- National Hurricane Center warns the system could strengthen into a hurricane.
- Such a hit could shake oil rigs, pipelines, and refineries along the coast.
- That uncertainty nudged prices upward and steadied the market a bit.
Demand Still in the Dust
Despite the brief rally, fears about demand linger. Saudi Aramco trimmed its October Arab Light price by 70¢ for Asian buyers, signalling caution. Meanwhile, OPEC+ plans to bump up oil supply for 2025—its first increase since 2022—though lower prices have kept those hikes on hold.
Weak demand in heavyweight markets like China and the U.S. continues to weigh on prices. Traders are keeping a close eye on economic news from both countries to gauge how it might affect oil consumption.
What To Watch Next
- Storm intensity: Will it hit Gulf oil infrastructure?
- Economic data: US job reports and Chinese manufacturing figures.
- OPEC+ production moves: Will the 2025 output boost materialize?
Stay tuned for the latest updates—because in the oil market, one twist can flip the whole story.
