Crude oil rises as Gustav approaches Gulf
Crude is up this morning on forecasts that Tropical Storm Gustav will soon enter the Gulf of Mexico.
Gustav has weakened from a hurricane to tropical storm with sustained winds of 60 miles (95 kilometers) an hour, the National Hurricane Center said. However it is expected to increase back to a hurricane before reaching the Gulf platforms.
October crude is 66 cents higher at $116.93/barrel at 08.45am London time.
Gustav has weakened from a hurricane to tropical storm with sustained winds of 60 miles (95 kilometers) an hour, the National Hurricane Center said. However it is expected to increase back to a hurricane before reaching the Gulf platforms.
October crude is 66 cents higher at $116.93/barrel at 08.45am London time.
