Oil Futures Climb as Idalia Strengthens Into a Hurricane

Oil futures climbed on Monday as traders eyed potential disruptions to crude production in the Gulf Coast, which accounts for over 47% of total U.S. petroleum refining capacity, according to the U.S. Energy Information Administration (EIA). 

Tropical Storm Idalia strengthed into a hurricane Tuesday and is expected to make landfall in Florida by tomorrow. Idalia may produce tornadoes along the west central Florida coast today and could intensify to a Category 3 hurricane, according to the National Hurricane Center. Category 3 is considered a major hurricane with sustained winds of at...

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