Brent has reached $71 today on worries that a hurricane may di | Olymp Trade Global

Brent has reached $71 today on worries that a hurricane may disrupt the oil supply from the Gulf of Mexico. However, as it was merely an initial emotional reaction, oil was quick to reverse the gains. In the absence of fundamental factors that might support a confident bullish push, we expect that it will keep dropping until the hurricane actually affects the circuitry of oil production in the Gulf.