Crude Moves Toward $120 As Gustav Intensifies

August 28, 2008 8:43 AM EDT

Energy Check: With Gustav gaining speed again and prediction it could hit the key Gulf region as a category 3 or category 4 storm early next week, crude and natural gas are higher again this AM.

Crude for October Deliver is up $1.40 to $119.55 per barrel on NYMEX, with a day's range of $118.05-$119.89.

Natural Gas for October Delivery is up $0.074 to $8.683 on NYMEX, with a day's range of $8.49-$8.808.

Energy Related ETF: Energy Select Sector SPDR (AMEX: XLE), Oil Services HOLDRs (AMEX: OIH), United States Natural Gas (AMEX: UNG).


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OIH 73.82

+6.62 +9.85%
Volume: 16,987,800
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UNG 27.34

+0.82 +3.09%
Volume: 2,303,608
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XLE 44.42

+4.46 +11.16%
Volume: 75,365,958
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