Nearly 30% of U.S. Gulf of Mexico crude oil production and 41% of its natural gas production remained offline on Saturday following Hurricane Francine, the U.S. offshore energy regulator said.

Hurricane Francine resulted in nearly 30% of U.S. Gulf of Mexico crude oil production and 41% of its natural gas production remaining offline. The sto

Oil prices rose on Friday and were on track to record their first weekly gain in a month after oil and gas operations in the Gulf of Mexico were halted due to Hurricane Francine. Brent, the benchmark for two thirds of the world’s oil,

Oil prices rose over 2% on Thursday as producers assessed the impact on output in the U.S. Gulf of Mexico after Hurricane Francine tore through offshore oil-producing areas before being downgraded to a tropical storm.