The oil price was also boosted by an unexpected dip in US crude-oil inventories last week. The US Energy Department reported that crude oil inventories declined by 100,000 barrels to 305.6m barrels, when analysts had been expecting an increase of around 1.5m barrels.
164
Oil Prices Rose on Gustav Storm Fears
Worries that Tropical Storm Gustav may gain in strength and disrupt operations in the Gulf of Mexico
Oil prices firmed amid worries that Tropical Storm Gustav may gain in strength and disrupt operations in the Gulf of Mexico.
The October futures closed $1.88 higher at $118.15 a barrel in New York after weather experts warned that the storm, which recently passed over Haiti, could regain hurricane status and hit the Gulf of Mexico this week-end. Around a quarter of US oil production emanates from the Gulf.
The oil price was also boosted by an unexpected dip in US crude-oil inventories last week. The US Energy Department reported that crude oil inventories declined by 100,000 barrels to 305.6m barrels, when analysts had been expecting an increase of around 1.5m barrels.
The oil price was also boosted by an unexpected dip in US crude-oil inventories last week. The US Energy Department reported that crude oil inventories declined by 100,000 barrels to 305.6m barrels, when analysts had been expecting an increase of around 1.5m barrels.
Подпишитесь
