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Article: Atlantic storms fail to stir energy prices.(Business)
- Article from:
- The Seattle Times (Seattle, WA)
- Article date:
- August 18, 2009
CopyrightCOPYRIGHT 2009 The Seattle Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: John Porretto; The Associated Press
HOUSTON -- The season's first Atlantic hurricane and two other storms have done nothing to spur a rise in energy prices, largely because supplies are high and demand low, but oil companies are keeping close watch on their offshore operations in the Gulf of Mexico.
After a quiet start to the 2009 hurricane season, three storms whipped up in recent days, though none appears a threat to the U.S. Gulf's massive energy complex.
Crude prices fell to new lows for the month Monday, to around $65 a barrel, and natural-gas prices slumped to new lows as well.
Pump prices have changed little in the past ...