Crude oil prices jumped more than 2 percent early Monday amid fears over a new storm Wilma, forming in the Caribbean at the Gulf of Mexico, threatening to damage oil platforms for a third time this year.
U.S. light sweet crude soared $1.65 to $64.28 a barrel on the NYMEX. Meanwhile, London?s Brent crude climbed $1.47 to $60.95 a barrel.
"It certainly could have an impact on the production and refineries that are up and running today and it certainly would have an impact on the recovery," ConocoPhillips Chairman Jim Mulva told Reuters on Sunday.
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Crude Price Jumped On Coming Hurricane News
Crude oil prices jumped more than 2 percent early Monday amid fears over a new storm
