Oil Rises As Isaac Plows Through Gulf

By: Associated Press
By: Associated Press
Oil prices are rising as Isaac pushes into the heart of the Gulf

(AP/CBS)

Stay up-to-date with KAKE News:

Tuesday, August 28, 2012

Oil prices are rising as Isaac pushes into the heart of the Gulf's oil and refinery operations.

Benchmark crude gained 41 cents to $95.88 per barrel Tuesday in New York.

Forecasters expect Isaac to intensify into a hurricane by the time the storm reaches Louisiana later Tuesday. Nearly 80 percent of oil production in the Gulf of Mexico had been halted as of Monday afternoon. A number of refineries have shut down or curtailed production.

Gasoline prices have been rising as the storm steered a path to the Gulf. The national average has risen 4 cents in a week to $3.756 per gallon. Prices in Mississippi, Alabama, Florida and Louisiana -- states in Isaac's path -- have tallied even bigger increases.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KAKE TV 1500 N. West Street Wichita, KS 67203-1323 (316) 943-4221
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 167696455 - kake.com/a?a=167696455
Gray Television, Inc.