(Bloomberg) -- Crude oil was little changed as
Cyclone Gonu weakened approaching the Iranian coast, reducing
concern that shipments from OPEC's second-biggest producer will
be disrupted.
Gonu is dissipating over water near Iran with winds at 64
kilometers per hour (40 miles per hour), the U.S. Navy said.
Ships continued to pass through the Strait of Hormuz, a waterway
at the mouth of the Persian Gulf, Associated Press reported,
citing Suresh Nair of the Gulf Agency Co. shipping firm. At least
a quarter of the world's oil supplies pass through the strait.
Read more at Bloomberg Commodities News
Cyclone Gonu weakened approaching the Iranian coast, reducing
concern that shipments from OPEC's second-biggest producer will
be disrupted.
Gonu is dissipating over water near Iran with winds at 64
kilometers per hour (40 miles per hour), the U.S. Navy said.
Ships continued to pass through the Strait of Hormuz, a waterway
at the mouth of the Persian Gulf, Associated Press reported,
citing Suresh Nair of the Gulf Agency Co. shipping firm. At least
a quarter of the world's oil supplies pass through the strait.
Read more at Bloomberg Commodities News
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