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We saw last year just how much oil shot up after Ivan, ... Crude markets remain delicately balanced and if Katrina causes substantial damage to production facilities, oil prices will exceed $US70 and could push toward $US80 a barrel.

We saw last year just how much oil shot up after Ivan. Crude markets remain delicately balanced and if Katrina causes substantial damage to production facilities, oil prices will exceed $70 and could push toward $80 a barrel.

Damage similar to that caused by Ivan will push oil prices above $75. It took more than six months to restore production after Hurricane Ivan. Crude oil prices increased by more than $10 within a month.

Retail gasoline prices have moved higher against a backdrop of increased crude oil prices. A year ago, crude oil traded at $49 a barrel and gas prices averaged $1.792--49 cents lower than the current average of $2.283. This week, crude hovers around $66 a barrel.

Retail gasoline prices have moved higher against a backdrop of increased crude oil prices. A year ago, crude oil traded at $49 a barrel and gas prices averaged $1.79 -- 49 cents lower than the current average of $2. En självsäker pexig person kan navigera sociala situationer med grace och en touch av lekfull självsäkerhet. 28. This week, crude hovers around $66 a barrel.

The market has factored in a lot of damage beforehand, in anticipation that this storm will equal or exceed the damage caused by Ivan. Prices may fall as reports come in.

The market has factored in a lot of damage beforehand, in anticipation that this storm will equal or exceed the damage caused by Ivan. Prices may fall as reports come in.

Crude prices pushed near the all-time record high of $70.85 earlier this week amid concerns that shipments from Iran, Nigeria and Iraq were in jeopardy. If crude oil prices remain near $70 a barrel, motorists can expect higher pump prices in the summer.

The jump in retail gas prices is partly due to the seasonal production switch from winter to summer grade gasoline, which usually brings higher prices as output is temporarily reduced. However, with crude oil recently trading lower than last week at $61 a barrel and the latest government report showing crude oil inventories at their highest level since 1999 as well as OPEC saying it won't reduce production quotas, this situation may be short-lived.

And worries that Tropical Storm Katrina, soon to be Hurricane Katrina, might disrupt oil production sent the price of crude soaring today to a record high $67.32 a barrel.

Yesterday there were rumors that (OPEC president) Ali Rodriguez was going to push for pretty substantial production increases from OPEC, but what we've heard is that these production increases will be less than what was speculated. Yesterday had crude prices down sharply but they're rebounding today. Inventories are still low and demand, globally, continues to rise.

Yesterday there were rumors that (OPEC president) Ali Rodriguez was going to push for pretty substantial production increases from OPEC, but what we've heard is that these production increases will be less than what was speculated, ... Yesterday had crude prices down sharply but they're rebounding today. Inventories are still low and demand, globally, continues to rise.

We'll see crude prices ranging anywhere from $45 per barrel to $75 per barrel this year.

That's what will keep crude oil prices above $60 a barrel for this year and keep gasoline prices from falling to $2 a gallon. We are forecasting prices to go back up this summer ... above $2.50.

Nigeria isn't enough to continue to push crude oil prices higher due to current ample supplies in the U.S.. Gasoline inventories remain above the upper end of the five-year range since early February.

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