Crude oil prices went down around one percent on Tuesday over demand concerns due to the Covid-19 and expectations that OPEC+ will raise oil output during its meeting scheduled for Wednesday. At 1300 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, shed $0.64 (-0.87 percent) to reach $72.77 a barrel. Similarly, the US West Texas Intermediate (WTI) reached $68.46 a barrel, down by $0.75 (-1.08 percent). The price for Opec Basket was recorded at $71.48 a barrel with 1.03 percent increase, Arab Light was available at $74.31 a barrel with 1.31 percent increase, while the price of Russian Sokol jumped to $72.48 after gaining 0.37 percent. Meanwhile, tropical storm Ida that hit Louisiana, a state near the Gulf of Mexico, last week, disrupted processing facilities at six that process 1.92 million barrels per day (bpd) of crude, around 12% of U.S. refining capacity, according to Reuters. “With companies currently assessing damages, a current timeline for how long shuttered capacity will be down is still uncertain,” RBC analysts said in a note. With catastrophic damage to the grid in Louisiana, power outages could last three weeks, utility officials said, which would slow efforts to repair and restart energy facilities.