Oil falls as US refiners shut down by damage from Hurricane Ida
MELBOURNE: Oil NSE -0.06 % prices fell on Tuesday on concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries at the same time global producers plan to raise output.
US West Texas Intermediate (WTI) crude futures were down 41 cents, or 0.6%, to $68.80 a barrel at 0245 GMT, reversing most of Monday’s gains.
