AAA Daily Fuel Gauge Report for Friday, 8/27/21

American Dollar to Canadian Dollar = 0.754572; American Dollar to Chinese Yuan = 0.141156; American Dollar to Euro = 1.105007; American Dollar to Japanese Yen = 0.007066; American Dollar to Mexican Peso = 0.058991.

Oil prices were mixed Friday as investors waited to see the potential impact of Tropical Storm Nate on U.S. Gulf Coast oil infrastructure. “As we come into the weekend, the market is focusing on the implications of Tropical Storm Nate and how big any disruptions will be” on crude production and refining capacity, said Richard Mallinson, an analyst at consultancy Energy Aspects. As with Hurricane Harvey in August, the “tendency is for the focus to be more on refinery shutdowns, which is probably more positive for product prices and probably a little bearish for crude prices,” Mr. Mallinson said. Click Read More below for more of the story.

Oil prices steadied on Wednesday, supported by a drop in U.S. commercial crude inventories and the loss of storage capacity in Libya, but under pressure ahead of a meeting of OPEC exporters which may increase global production. U.S. crude inventories fell by 3 million barrels to 430.6 million barrels in the week to June 15, according to an American Petroleum Institute report on Tuesday. Click Read More below for additional information.