New York's main contract, light sweet crude for October delivery spiked by over a dollar to US$97.50 a barrel and Brent North Sea crude for delivery in October spiked to US$114.99.
Crude prices surgeed as supply of oil and gas from the Gulf of Mexico was curtailed after Tropical Storm Isaac forced the closure of production facilities in the region.
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Friday, August 31, 2012
Oil rises on concerns that Tropical Storm Isaac could strike Gulf of Mexico and disrupt supplies
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