Oil and natural gas prices to take a hit, analysts say (from Katrina)

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Mon Aug-29-05 01:56 AM
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Oil and natural gas prices to take a hit, analysts say (from Katrina)

http://www.chron.com/cs/CDA/ssistory.mpl/business/3328951

By TOM FOWLER
Copyright 2005 Houston Chronicle

Oil and natural gas prices are expected to spike today after Hurricane Katrina shut down energy production that's key to the country's supplies.

Katrina's tear through the central Gulf of Mexico struck at the heart of a region that accounts for more than a quarter of U.S. domestic oil and natural gas production.

(snip)

Likely signaling what's ahead, Sunday night, when electronic trading resumed on the New York Mercantile Exchange, crude oil futures spiked $4.50 per barrel, putting the cost above $70 for the first time since oil began trading there in 1983.

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Mon Aug-29-05 02:10 AM
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1. Duplicate

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=1733622&mesg_id=1733622

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