Oil prices surged amid concerns over US refinery capacity post-Hurricane Rita. New York's main contract, light sweet crude for delivery in November, jumped by US$1.63 to close at US$65.82. Supply worries were focused on domestic heating oil inventories, which need to build ahead of the cold weather. As Rita swirled through the Gulf of Mexico over the weekend, it created less than anticipated damage. The initial reaction was relief, which led to an initial fall in oil prices and a positive reaction on global stock markets on Monday.
27-Sep-05 
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