Posted on 09/22/2005 6:36:36 AM PDT by minerboy
Crude-oil prices rose Wednesday as traders braced for the possibility that Hurricane Rita could smash into key oil facilities in Texas.
Workers fled oil rigs in the Gulf of Mexico less than a month after Hurricane Katrina tore through the same region, as Rita strengthened into a Category 4 hurricane Wednesday.
"Prices are going to be driven directly by the projected path of the storm," said John Kilduff, analyst at Fimat USA. The National Hurricane Center said Rita could reach Category 5 status, and is likely to hit Texas, the heart of U.S. oil production.
Light, sweet crude for November delivery rose 60 cents to settle at $66.80 a barrel on the New York Mercantile Exchange, after surging as high as $68.27 earlier Wednesday.
(Excerpt) Read more at breitbart.com ...
What is that going to do when there are not enough refinerys to process it? I am just a dumb ass so would someone splain it to me.
Here comes another gas price RIP OFF by the oil co.
Here we go again. A fly drops dead in Ca. creating another disruption of supplies necessitating a spike in gas prices as well as profits.
Quit griping and fill up while the price is cheap.
Want price controls comrade???
Here we go again! I waited in line yesterday morning for 30 minutes for $2.49/gal regular gas. By the time I went back by that same station yesterday afternoon, they had gone up to $2.56/gal regular. Most other places are $2.89/gal regular.
Typical
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