Crude prices spike on new storm fears

NEW YORK – Crude-oil futures rebounded above $65 a barrel Monday amid worries that a storm gaining strength off the Bahamas could hit U.S. oil facilities in the Gulf of Mexico later this week.

…Benchmark light, sweet crude for October delivery rose $2.80, or more than 4 percent, to $65.80 a barrel in morning trading on the New York Mercantile Exchange, still more than $5 off its all-time high of $70.85 hit briefly on Aug. 30. Nymex crude fell $1.75 on Friday to its lowest closing price since Aug. 5.
Heating oil surged more than 14 cents to $1.98 per gallon, while gasoline rose more than 16 cents to $1.9525.

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