Hang on Children!… To Your Wallet That Is!
Oil Closes Above $80 for First Time
Oil prices finished above $80 a barrel for the first time Thursday and gasoline prices rose as refiners reported production problems after Hurricane Humberto hit Texas.
Oil first traded over $80 a barrel on Wednesday after the Energy Department reported declines in crude and gasoline inventories and a drop in refinery activity, but ended the day below that psychologically important mark.
On Thursday, Humberto added to the supply concerns by cutting power to several refineries in the Port Arthur, Texas, area. Another tropical system gaining strength in the Atlantic also supported prices.
Uncategorized | TheFourEyes September 13, 2007
