Analysts are also warning that upcoming refinery maintenance could hit crude demand
A view of the Mobil oil refinery at Altona in Melbourne on June 27 2008. Picture: REUTERS/Mick Tsikas
Both benchmarks fell more than 2% on Wednesday, with WTI sliding to its lowest close in nearly four weeks and Brent at its weakest since August 21. Analysts warn that the upcoming refinery maintenance and the end of summer driving season would also limit crude demand. Due to shutdowns ahead of Hurricane Laura, US refinery utilisation rates fell by 5.3 percentage points to 76.7% of total capacity.
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