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Jul 6, 2005

OIL - USA - Nears a record above $60 a barrel

Storms fuel supply worries ahead
SAN FRANCISCO,CAL,USA -MarketWatch -July 6, 2005: -- Oil futures neared record levels above $60 a barrel Wednesday as severe weather shut down several oil and gas rigs in the Gulf of Mexico, intensifying anxiety over whether U.S. inventories are adequate in the short run to meet strong demand... Tropical Storm Cindy forced the shut-in of 3.3% of daily oil production, representing 49,830 barrels, in the Gulf of Mexico as of Tuesday, according to the U.S. Minerals Management Service...

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