Oil prices rally as Gustav threat looms
August 29, 2008 LONDON (AFP) - Oil prices rebounded on Friday as Tropical Storm Gustav risked becoming a hurricane once more and threatening energy production in the Gulf of Mexico, home to US refineries, traders said.
New York’s main contract, light sweet crude for delivery in October, jumped 2.39 dollars to 117.98 dollars per barrel.
London’s Brent North Sea crude for October gained 1.73 dollars to 115.90.
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