Crude Oil Prices Up; New Storm on Horizon
Posted on: Monday, 8 September 2008, 09:00 CDT
Crude oil prices were up to $107.55 a barrel during the weekend, climbing while refineries along the Gulf of Mexico found themselves in between hurricanes.
With Gustav's departure, oil personnel can now look over their shoulders at Hurricane Ike, a Category 4 storm battering eastern Cuba, The Wall Street Journal reported Monday.
Ike's path and potential damage to oil-supply infrastructure is unclear.
On the New York Mercantile Exchange Monday, crude oil was up $1.32 to $107.55 per barrel. Heating oil prices gained 0.0394 cents to $3.0222 per gallon. Reformulated gasoline prices rose 0.0769 cents to $2.763 per gallon, while natural gas prices were up 0.141 cents to $7.59 per million British thermal units.
At the pump, U.S. motorists were paying an average of $3.658 for a gallon of regular, unleaded gasoline, down 0.007 from Sunday's $3.665, the AAA said.
Source: United Press International
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