Oil prices near four-year high as hurricane bears down on US | Financial Times

Oil prices near four-year high as hurricane bears down on US | Financial Times:

Oil prices rose to more than $80 a barrel on Wednesday, nearing a four-year high as traders braced for a series of tropical storms barrelling towards the US which are coinciding with mounting concerns about a global supply shortfall.

Hurricane Florence spiralled towards the US eastern seaboard, maintaining category four winds at 130 miles per hour. Its course shifted slightly south on Wednesday but it continued to head towards North and South Carolina.

Fuel supplies were in focus as motorists fill up their tanks in anticipation of the eye of the storm making landfall in the Carolinas on Friday.