Oil rises in Asia as Gustav poised to hit US

Politics & Business / Money And Finance

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Oil rises in Asia as Gustav poised to hit US

Oil prices rose Monday in Asia to above $116 a barrel on expectations Hurricane Gustav will damage drilling and refining operations as it approaches the Louisiana coast.Light, sweet crude for October delivery was up $1.04 at $116.50 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore.
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