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General News 8/24/2005 at 3:16 AM EDT

Crude oil prices soar

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Amanda Lang

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Crude on the New York Mercantile Exchange rose by as much as 60 cents to $66.31 a barrel for October's front-month contracts, which traders attributed to storm warnings over another budding hurricane which they say could hurt Gulf of Mexico production.

"Apparently, the emergence of the new storm is supporting gains, in addition to some expectations that the Energy Information Administration report will show a decline in U.S. commercial crude stocks," said Ken Hasegawa, commodities broker at Tokyo-based Himawari CX.

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OpedNews volunteer from 2005 to 2013.

Amanda Lang was a wonderful member of the Opednews team, and the first volunteer editor, for a good number of years being a senior editor. She passed away summer 2014.

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