The October oil contract expired Thursday.
A weak low-pressure system with the potential to become a named subtropical storm as early as Thursday has formed in the eastern Gulf, the U.S. National Hurricane Center said.
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Crude Futures Above $83
Crude futures closed above 83 dollars a barrel Thursday on the New York Mercantile Exchange
Crude futures closed above 83 dollars a barrel Thursday on the New York Mercantile Exchange, marking another record high for a benchmark contract.
October futures closed at $83.32 a barrel, up 1.7 percent, or $1.39 over the previous closing.
The October oil contract expired Thursday.
A weak low-pressure system with the potential to become a named subtropical storm as early as Thursday has formed in the eastern Gulf, the U.S. National Hurricane Center said.
More than 360,000 barrels, or 28 percent, of daily oil production was idled, the U.S. Minerals Management Service said Thursday in a statement.
The October oil contract expired Thursday.
A weak low-pressure system with the potential to become a named subtropical storm as early as Thursday has formed in the eastern Gulf, the U.S. National Hurricane Center said.
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