Oil Price Jumped On Mexico Gulf Storm

Oil prices rose again on Wednesday after a tropical storm in U.S. Gulf of Mexico compounding worries over refiners' ability to bolster low winter fuel supplies.

U.S. crude oil futures rose 27 cents to $59.86 a barrel in Asian trading time, extending Tuesday's gain in New York, where prices briefly edged above $60.

Meanwhile, London?s Brent crude futures rose 23 cents to $58.52 a barrel on the IPE.
"The hurricane threat has certainly raised people's fears of refiners struggling to produce enough products, particularly at a time when demand for gasoline is high," said Daniel Hynes, resource analyst at ANZ Institutional Banking.