LIVE CRUDE OIL NEWS UPDATE BY ROYALTRADERS

Live News Update

Oil prices dip as IMF lowers global growth outlook; eyes on U.S. hurricane

Oil prices edged down on Wednesday after the IMF lowered its global growth forecasts, but markets were supported as Hurricane Michael churned towards Florida causing the shutdown of nearly 40 percent of U.S. Gulf of Mexico crude output.

Brent crude LCOc1 futures were down 2 cents at $84.98 a barrel by 0640 GMT, after a 1.3 percent gain on Tuesday.

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