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Article: Crude Oil Prices Climb Toward $68 a Barrel
- Article from:
- AP Online
- Article date:
- September 22, 2005
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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EN-LAI YEOH, Associated Press Writer
AP Online
09-22-2005
Dateline: SINGAPORE
Crude oil prices climbed toward $68 a barrel Thursday as Hurricane Rita closed in on Texas, raising fears it would hit key production facilities along the U.S. Gulf Coast that were largely untouched by Hurricane Katrina's onslaught three weeks ago.
The Category 5 hurricane with 165-mph winds was expected to strike Texas, the heart of U.S. oil production, on Saturday. More than 1.3 million people in Texas and Louisiana _ including hundreds of oil workers _ were ordered to evacuate.
"No question, prices are driven by Hurricane Rita," said Energyintel analyst Sam Dale in Singapore. "The fuse is that it will force ...