OIL PRICES

Oil Prices Rangebound By Concerns Over Supplies And Economy

Oil prices were rangebound last week, with concerns over short term supply disruptions being balanced against concerns about the outlook for the global economy. As Hurricane Isaac passed through the Gulf of Mexico and onshore into Louisiana, more than 90% of US offshore production capacity and some 15% of Gulf Coast refining capacity was shut down as a precautionary measure. Prices eased after...