Oil price spikes on tropical storm fears

Politics & Business / Money And Finance

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Oil price spikes on tropical storm fears

Oil prices spiked to over US$118 a barrel Wednesday on growing concerns that Tropical Storm Gustav may disrupt operations in the Gulf of Mexico, home to a quarter of U.S. crude production. A weaker dollar also helped lift prices.By afternoon in Europe, light, sweet crude for October delivery was up US$1.98 at US$118.25 a barrel in electronic
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