Crude Oil Falls as Isaac Threatens Refinery Industry

By in Gold and Oil News | August 28, 2012 23:54 | Tags:

Crude oil futures declined on Monday as the refinery industry in the Gulf of Mexico seems in highly vulnerable due to Tropical Storm Isaac.

Crude oil futures contract for October delivery declined 0.7 percent or $0.68 to $95.47 per barrel on the New York Mercantile Exchange while touched its intraday high of $97.72 per barrel. The respective contract has closed in red zone for its third consecutive session.

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