Crude oil tops $118 in another slow day

Published: Aug. 27, 2008 at 5:57 PM

NEW YORK, Aug. 27 (UPI) -- Crude oil prices closed at $118.27 a barrel Wednesday as the oil rally cooled a bit despite storm concerns in the Gulf of Mexico.

Tropical Storm Gustav continued on its path toward the gulf, home to a quarter of U.S. oil production. The storm, still a long a way off, slammed Haiti, killing 11, and is drawing comparisons to Hurricane Katrina.

The National Hurricane Center expects that Gustav will intensify to a Category 3 hurricane and make its way toward landfall around Louisiana and Mississippi over the next few days.

Natural gas was up .18 cents at $8.57 per million British thermal units.

Heating oil was up 5.31 cents at326.59 cents a gallon. Refurbished gas rose 10.67 cents at 307.60 cents a gallon.

U.S. motorists were paying an average of $3.667 for a gallon of regular unleaded gasoline, down from $3.672, the AAA said in its fuel gauge report.

© 2008 United Press International, Inc. All Rights Reserved.
Order reprints



Additional News Stories
Herzog, Harvey elected to Hall of Fame (9 min)
Some caramel corn, puffs brands recalled (11 min)
Iceland's GDP falls sharply (18 min)
Citigroup repayment may have to wait (38 min)
NASA awards technical services contract (58 min)
Crude oil prices slide Monday
Markets start week slow, but head up
fark
EPA to issue an endangerment finding on Greenhouse Gases, allowing their regulation by the Federal...
Upset over a teacher's disciplinary tactics with your child? That's a stapler to the head
Man arrested for giving his wife the ol' burgerface
"Singing karaoke keeps porn star industry humming"
France in mourning after the death of a 146-year old known for his "demonstrative lovemaking"
If you don't want to walk home in the cold, you could take a bus, or a cab, or even hitchhike. But...