CRUDE OIL NEWS UPDATES BY COMMODITYPADIT.COM::

Oil dips as IMF lowers global growth outlook; eyes on U.S. hurricane::

Commoditypandit.com –  Oil prices edged lower on Wednesday after the IMF lowered its global growth forecasts but prices were supported

as Hurricane Michael churned toward Florida, causing the shutdown of nearly 40 percent of U.S. Gulf of Mexico crude output.

Brent crude (LCOc1) futures were down 21 cents at $84.79 a barrel by 0434 GMT, after a 1.3 percent gain on Tuesday.

U.S. West Texas Intermediate (WTI) crude (CLc1) was down by 34 cents, or 0.5 percent, at $74.62 a barrel, after rising nearly 1 percent in the previous session.

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