Adhesives Magazine

Oil Prices Dip after Gustav

September 2, 2008

Reports show that Hurricane Gustav did little damage to energy facilities in the Gulf, helping to send oil prices sharply downward.

The Houston Chronicle is reporting that early updates from Gulf of Mexico drillers and oil and natural gas producers were "very promising," with no major damage reported. Refiners were beginning to send crews today to assess facilities in Louisiana, meanwhile, a process that could take several days.