The Louisiana Offshore Oil Port reopened after closing due to bad weather and that seems to have forced oil prices downward. As of 5:00 a.m. Friday, light-sweet crude is trading at $60.10 per barrel. While the oil port was closed, 3.3 million barrels of oil could not be offloaded, causing a temporary reduction in oil inventories and a spike in price to over $61.
Reuters
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