Oil Industry Contends With Hormuz Attacks, Hurricane Risk

Michelle Brouhard, head of policy and geopolitical risk at trade data firm Kpler, said 'we continue to have high prices in crude' since freight rates are 100 times higher than...

By Bloomberg Markets · Bloomberg Markets

Michelle Brouhard, head of policy and geopolitical risk at trade data firm Kpler, said 'we continue to have high prices in crude' since freight rates are 100 times higher than they were this time last year amid heightened risk in getting oil out of the MidEast. Brouhard also discussed the impact Hurricane Isaias could have on oil as it makes its way through the gulf, saying if refinery capacity is taken out of commission the world could see a 'significant hike' in the price of refined oil products. (Source: Bloomberg)