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Jacob: 00:04 Major storm Berry is approaching Louisiana. Three things you got to know about oil prices. One, they rose. That's not one, but they did rise. One, Chevron, Exxon, BP oil, Dutch Shell, they all evacuated staff from rigs in the Gulf area. Really important to know. The Gulf area represents about 20% of all U.S. Oil output. So you are seeing a potential restriction of a lot of supply there. That's why you're seeing oil prices rise. The IEA says oil demand remains an area of focus. You're an oil investor. You gotta know those things.

Hurricane Barry is starting to lash Louisiana and is threatening to decimate a large chunk of America's Gulf of Mexico offshore oil operation. 

Brent crude-oil prices for September delivery rose 0.3% Friday to $66.72 a barrel, while West Texas Intermediate oil for August delivery added 0.02% to $60.21. 

Here's what oil investors need to watch: 

Chevron (CVX - Get Report) , Exxon Mobil (XOM - Get Report) , British Petroleum (BP - Get Report) and Royal Dutch Shell (RDS.A - Get Report) all evacuated staff from rigs in the Gulf area. The region represents roughly 20% of all U.S. oil output, so a huge chunk of supply is threatened, bringing the price of oil up.

Barry is hitting Gulf oil production just as the International Energy Agency says oil demand growth will remain a key focus as global manufacturing output declines, an issue Federal Reserve Chairman Jerome Powell flagged in his recent testimony before Congress. 

BP is a holding in Jim Cramer's Action Alerts PLUS member club. Hear what he has to say about the stock. Learn more now.

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