Crude oil prices gain above US$55 on start of hurricane season

The fact that U.S. refineries are already running close to the maximum and Sunday’s airing of the U.S. television docudrama “Oil Storm” depicting the scenario of US$150-a-barrel crude due to a hurricane paralyzing Gulf production and terrorism hitting Saudi Arabia, “might … raise the fear premium in oil traders’ heads,” it said, adding: “The whole industry is increasingly convinced that high prices are here to stay.”
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