Oil Investing News » Oil jumps as Gustav Threatens Gulf of Mexico Platforms

Oil jumps as Gustav Threatens Gulf of Mexico Platforms

August 29, 2008 @ 6:47 am In Oil Market News

Crude oil headed for its biggest weekly gain in almost two months as producers evacuated rigs before the arrival of Gustav.

Addison Armstrong, director of market research at TFS Energy LLC, said:

Prices are higher on the prospect that Hurricane Gustav will strike the heart of the oil and natural gas production region in the Gulf of Mexico.

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