OIL & ENERGY INSIDER
Oil prices looked to be on course for their largest weekly gain since July, but demand fears driven by Hurricane Dorian hitting Florida sent prices crashing on Friday morning. Friday, August 30th, 2019 Oil prices looked set for their biggest weekly gain since July, but demand fears caused by Hurricane Dorian hitting Florida sent prices crashing on Friday morning. Oil prices were pushed up this week by cautious language from the U.S. and China, falling oil inventories, and also by a major Hurricane heading for the U.S. southeast. Despite an apparent cooling in the trade war, already-announced tariffs are set to jump on Sunday. “Upside momentum should not be taken for granted. Recession fears are casting a shadow on sentiment and oil prices should keep dancing to the tune of the U.S.-China trade saga,” Stephen Brennock of oil broker PVM told Reuters . Possible Category 4 hurricane barrels towards Florida and the Gulf. Hurricane Dorian, which could yet strengthen to a powerful Categor