Katrina has shut down 92% of the Gulf's oil output and several refineries, stoking fears about future oil supply.
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Crude Is Rising Higher
Crude oil prices reached fresh highs as losses after Hurricane Katrina were being estimated
Crude oil prices reached fresh highs as losses after Hurricane Katrina were being estimated.
US light crude soared to $70.85 a barrel on Tuesday afternoon on the NYMEX, surpassing Monday's previous all-time high of $70.80.
In London Brent crude gained $3.37 to $68.24 a barrel.
Katrina has shut down 92% of the Gulf's oil output and several refineries, stoking fears about future oil supply.
Katrina has shut down 92% of the Gulf's oil output and several refineries, stoking fears about future oil supply.
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