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Wednesday, Feb 1, 2023
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Oil Prices Climb on Storm Concerns

Crude futures rose Friday, reflecting traders’ concerns over possible hurricane dangers in the Caribbean and Gulf of Mexico to oil exports from Mexico and Venezuela.


Light, sweet crude for August rose 85 cents to $58.65 per barrel in morning trade on the New York Mercantile Exchange. Heating oil futures rose by more than 2 cents to $1.6789 a gallon, while gasoline futures moved up nearly 2 cents to $1.7105 per gallon. On London’s International Petroleum Exchange, Brent futures for September, the new front-month contract, were up 67 cents at $57.63 a barrel.


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