Crude oil edged back above 115 U.S. dollars a barrel after a choppy trading session Monday on the threat of tropical storm in the Gulf of Mexico despite a fluctuating dollar.
Light, sweet crude for October delivery rose 52 cents to settle at 115.11 dollars a barrel on the New York Mercantile Exchange after dropping to as low as 113.68 dollars a barrel.
Prices fluctuated during the most time of Monday's trading as the dollar gained against the euro, lost later and strengthened again.
But Tropical Storm Gustav formed in the Caribbean has pushed up the crude futures as traders were concerned that the oil and natural gas operations in the Gulf of Mexico would be disrupted.
Meanwhile, the tension in Georgia is still lingering over the market, adding pressure to the oil prices.
In London, Brent crude for October delivery rose 11 cents to settle at 114.03 dollars a barrel on the ICE Futures Exchange.
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article