Oil prices decline on Harvey concerns

Oil prices decline on Harvey concerns

Oil futures fell for the second session on track for another weekly decline, following earlier data from the US, the world's largest economy. 

As of 06:04 GMT, Brent crude futures shed 0.42% to $51.67 a barrel from the opening of $51.89, Economies.com reported.

Oil futures are swooning for the fourth week in a row as investors assess the damages made by Hurricane Harvey, while noting that Harvey is the worst hurricane to hit Texas in half a century, which led to the stoppage of 2.26 million bpd of refined oil, and closed major pipelines there, in turn stopping petrol pumping to New York ports.  

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