If you aren't feeling the latest rise in oil prices at the pump yet, you could be very soon. October crude climbed to yet another all-time closing high today, as traders continue to fret over dwindling U.S. petroleum supplies and concern over OPEC promises to increase production. On the session, crude added 18 cents to close at $80.09 per barrel Thursday, marking the first close above $80 for a front-month futures contract ever. Despite the rise in oil, natural-gas futures dropped more than 6% as a potential storm threat to production in the Gulf of Mexico faded. October natural gas fell 40.9 cents, or 6.4%, to end at $6.029 per million British thermal units.
Checking in briefly on metals, December gold declined for a second session in a row, dropping $2.80 to close at $717.90 an ounce. Other metals were mixed, as December silver lost 11.3 cents to close at $12.68 an ounce, while December copper added 3.7 cents to close at $3.3965 a pound.