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Oil, Gas Up on Hurricane Worries

Energy futures rose Friday, rebounding from a big drop a day earlier as some new forecasts said Hurricane Dean will turn into the central Gulf of Mexico and threaten oil and gas installations, according to the Associated Press.

The Federal Reserve's interest rate cut and a fire at a big Chevron Corp. refinery in Mississippi also supported energy prices, but storm impact worries were the big news of the day for energy investors, analysts said.

Posted by Peter C. T. Elsworth  at 3:46 PM to Oil | Permalink

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