Crude oil prices surged by over one dollar, amid concerns of Storm Wilma approaching the US Gulf of Mexico. New York's main contract, light sweet crude for delivery in November, jumped 1.73 dollars to close at US64.36 per barrel. In London, the price of Brent North Sea crude for December delivery spiked to US$60.57 per barrel in closing deals.
As per the US hurricane center, Storm Wilma has shifted west of its previous path and could hit Mexico's Yucatan Peninsula and is then expected to re-emerge into the Gulf and could become a threat to the southern US.
18-Oct-05 
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