The latest Gulf of Mexico storm sent crude oil prices up nearly 1% on Tuesday.
Tropical Storm Rafael has already forced oil companies to begin evacuations of operations in the Gulf and could result in some 4.9 million barrels of oil production a day being taken offline. It might do the same with natural gas production and affect up to 6.39 million cu ft of gas.
West Texas Intermediate crude closed up 50 cents or 0.70% at $71.97 a barrel on the New York Mercantile Exchange.
Global benchmark Brent crude gained 40 cents or 0.53% and finished the day at $75.48 a barrel.
Natural gas fell 10 cents or 3.63% and closed at $2.68.
Natural gas down 0.10 at $2.68 – change 3.63%
Election day trading resulted in gains for many Oklahoma energy stocks.
Canoo rebounded with a nearly 11% increase and Empire Petroleum jumped up more than 6%.