Oil Gains as Gulf of Mexico Storms Probably Cut U.S. Supplies

Oil prices rose for the first session in four after the U.S. government reported that as much as 96 percent of production in the Gulf of Mexico was shut by Hurricane Dennis.

“The oil production losses reported by the government were higher than people expected,” said Phil Flynn, vice president of risk management with Alaron Trading Corp. in Chicago. “If we lost that much with Dennis, people are worried about what’s going to happen with the next storm.”
Bloomberg