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Crude Oil Prices Hover As Emily Weakens

Crude oil prices hovers in the $58 range in midday trading. The price opened at $58.35 this morning and shot up as high as $58.90 before dropping back to $58. Traders are anxious to see how Hurricane Emily will alter oil tanker traffic from Venezuela and Mexico.

Crude Oil Tanks After Dodging Hurricanes

August contract crude dropped more than two dollars a barrel on reports that Hurricane Emily will completely avoid oil fields. Gasoline and heating oil, taking a hint also plummeted. These are lowest prices in over two weeks for oil.

Oil Prices Hover After Energy Report And Hurricane News

Oil prices hovered in the $60 range today, climbing to $61.10 briefly and then going back down to $60.30. Traders remain moody, eyeing the storm Emily moving into the Caribbean, as they wonder what the effects will be on the Gulf of Mexico.

Crude Oil Climbs Back Above $61

Fuel prices continued to climb back up as traders charged like bulls in Spain, driving prices for light sweet crude on the August contract in New York hit $61.25 before settling at $60.62 for the evening. Surprisingly enough, traders suspect U.S. inventories may be down somewhat when the EIA makes its announcement in the morning.

Oil Dodges Dennis Bullet

Oil traders calmed after Hurricane Dennis created minimal problems for offshore rigs after initial predictions had those investors worried. Light sweet crude on the August contract slides down ever so slowly to $58.10 in midmorning trading.

Oil Prices Change Direction As Dennis Projection Shifts

August contract light sweet crude dropped its rally on Friday aft Hurricane Dennis projections moved the storm away from oil platforms in the Gulf of Mexico. The prices closed at $59.63 a barrel after climbing to $61.90 during the day. Brent crude traded in the IPE in London dropped $1.10 to $58.20.

Oil Traders Remember Dennis the Menace

Light sweet crude prices started cranking out hits this morning in a rally that's taken the price back up to $61.75 and gas prices will make you squeal as they hit $1.86 in morning trades. Brent Crude is back up over $60 on the IPE in London this morning. Traders shook off the bombing because they're much more scared of Dennis.

Crude Oil Plummets After London Disaster

Light sweet crude, after opening at a record high of $62.30, this morning plummeted to $59.05 after news of the London subway bombings on Thursday morning. The price started a rally but didn't go back above $61.

Oil Prices Top $60 A Barrel on Supply Fears

Prices on August contract light sweet crude continue to climb on the New York Mercantile exchange as Tropical Storm Cindy continues to pour water on the Gulf Coast.

Crude Oil Soars to New Record: $61.40

Light sweet crude on the August contract exploded beyond the previous record to $61.40 a barrel. Gasoline and heating oil shot up right behind it at $1.80 a gallon. Dennis and Cindy hold the world oil market in their grasp.