Oil prices rose, partly on news that BP PLC will be unable to restore output from its Thunder Horse platform in Gulf of Mexico that was damaged by last year's Hurricane Dennis, until mid-2008. Thunder Horse platform, which has the capacity to produce as much as 250,000 bpd of oil and 200 million cubic feet a day of natural gas, was expected to be running by early 2007. inched up by 47 cents to settle at US$63.80 a barrel on the New York Mercantile Exchange.
A combination of rising global inventories, weakening U.S. economy and reduced geopolitical and hurricane threats, are factors that have been playing on global prices in the past few weeks.
19-Sep-06 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}