Crude Oil Rises as Hurricanes Threaten Production

Crude oil rebounded for the first time in 4 days as driven gains in stock markets. Shutdown of oil wells in the Gulf as hurricane Karl approached also lifted prices higher. The front-month WTI contract rose to 75.2 in European session after plunging to a 1-week of 74.11 yesterday. Precious metals remained firm with gold continued climbing higher.

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Crude Oil Rises as Hurricanes Threaten Production