The National Weather Service said the tropical storm "Harvey" was upgraded to a hurricane in the afternoon on August 24th and was expected to land in Texas on Friday night. Analysts said investors worried that the local would close the refinery, resulting in lower oil refining capacity to reduce crude oil demand, and thus oil prices were in down trend under the pressure at that day.
By the end of the closing day, the New York Mercantile Exchange The futures price of light crude oil delivering in October fell by $ 0.98 and closed at $ 47.43 a barrel with a decrease of 2.02%. The futures price of London Brent crude oil delivering in October fell by $ 0. 53 and closed at $ 52.04 a barrel with a decrease of 1.01%.
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