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Oil broke $120 again as Gustav eyes the Gulf of Mexico
http://www.bloggingstocks.com/ 2008/ 08/ 28/ oil-broke-120-again-as-gustav-eyes-the-...
Oil broke $120 again as Gustav eyes the Gulf of Mexico Posted Aug 28th 2008 10:46AM by Joseph Lazzaro Filed under: Other issues, Commodities, Oil Oil rose for a fourth straight day Thursday as Tropical Storm Gustav prepared to enter the Gulf of Mexico causing oil / natural gas companies to evaluate oil rigs in the area. Oil rose above $120 a barrel earlier Thursday morning, but is now trading below that level. Oil has risen about $10 in a week on hurricane concerns and geopolitical tensions. The other, major energy commodities also jumped Thursday morning on news of storm's likely track.
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