Oil futures rose above $117 a barrel Friday on expectations tropical storm Gustav will soon enter the Gulf of Mexico area.
Light, sweet crude for October delivery was up $1.44 at $117.03 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell $2.56 overnight to settle at $115.59 a barrel.
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Oil Prices Up In Anticipation
Oil prices rose above $117 a barrel Friday on expectations tropical storm Gustav will soon enter the Gulf of Mexico area
