3.85%C 7.22 11.94%GE 17.61 13.61%
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| USO | 38.5 |  -1.39 |
A system developing near the Cape Verde Islands off the western coast of Africa was upgraded to become the second tropical storm of the hurricane season, although it was expected to turn northward and avoid the oil and natural gas platforms scattered throughout the Gulf of Mexico.
"It's more of a psychological thing," Cordier said. "It reminds traders that hurricane season is ahead of us, not behind us."
In other Nymex trading, heating oil futures rose 3.45 cents to settle at $4.106 a gallon, while gasoline futures added 2.16 cents to settle at $3.571 a gallon. Natural gas futures jumped 18.8 cents to settle at $13.584 per 1,000 cubic feet.
In London, Brent crude futures rose to a trading record of $146.69 a barrel on the ICE Futures exchange before settling at $146.08, up $1.82.
___
AP writer George Jahn in Madrid, Spain, contributed to this report.
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China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
Otto Spoerri, dubbed "the ultimate arbiter of industry power" because he determined seating at the Oscars, has died. He was 75. Spoerri died Satu...
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