Oil Prices Dip Despite Beryl Strengthening to a Hurricane Again

Crude oil prices started the week with a dip earlier today but are likely to reverse course on the news that storm Beryl has strengthened to a hurricane again as it approaches Texas, where it is expected to make landfall. The largest ports in the Lone Star State already shut down over the weekend in anticipation of the hurricane, which means a temporary suspension of oil exports and refinery loadings. The ports shut down include Corpus Christi—a major oil industry hub—Houston and Galveston, and Freeport and Texas…