Relief that Hurricane Gustav's high winds were less severe than expected drove crude oil prices down 4 percent in electronic trading yesterday to $111.23 a barrel, the lowest level since mid-April, as traders assumed that the oil and gas industry's offshore platforms in the Gulf of Mexico would... -
Oil Industry Waits to Assess Storm's Impact
Relief that Hurricane Gustav's high winds were less severe than expected drove crude oil prices down 4 percent in electronic trading yesterday to $111.23 a barrel, the lowest level since mid-April, as traders assumed that the oil and gas industry's offshore platforms in the Gulf of Mexico would...-
By Steven Mufson