Crude Rises on Storm Jitters, Drop in U.S. Supplies

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Crude Rises on Storm Jitters, Drop in U.S. Supplies

Source: MarketWatch��(8/27/08)

Natural-gas futures climbed as much as 6%, leading broad gains across the energy sector. Crude for October delivery rose $1.64 to $117.94 a barrel on the New York Mercantile Exchange. It traded as high as $119.55 earlier. The contract was up 93 cents at $117.20 on Globex.

'There is a strong probability that [Gustav] will be a Category 3 storm by the time it enters the Gulf.'

Tropical Storm Gustav was a key worry for traders, along with data from the Energy Department, which showed an unexpected decline in crude inventories last week as well as a drop in gasoline supplies for the fifth week in a row...

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