Oil prices fell on Friday after almost a week of rises as Hurricane Irma, one of the most powerful storms in a century, drove toward Florida and the U.S. Southeast after destroying islands in the Caribbean. In the case of Irma, analysts are more worried that devastation wrought by the storm could sharply reduce demand for energy. “Hurricanes can have a lasting effect on refinery and industry demand,” said Eugen Weinberg, head of commodities research at Commerzbank in Frankfurt.
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July 16, 2017