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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Oral Roberts who wrote (2306)	9/23/2002 1:04:15 PM
From: Alan Smithee	Respond to of 57110

Hurricane Churns Up Seas, Helping Oil Futures Surge NEW YORK -- Crude-oil prices raced higher Monday as Hurricane Isidore battered Mexico's Yucatan Peninsula and threatened to turn north towards the gulf states, causing drilling and shipping to stop temporarily. The growing threat of war with Iraq also supported prices. October crude-oil futures climbed 84 cents to $30.68 a barrel on the New York Mercantile Exchange. Elsewhere, October gasoline gained 1.79 cents to 83.20 cents a gallon; heating oil was 1.6 cents higher at 80.30 cents a gallon and natural gas fell 14.2 cents to $3.90 per million British thermal units. Residents of Mexico's Yucatan Peninsula began sweeping water out of their homes and repairing rooftops early Monday after Hurricane Isidore ripped up trees, knocked out power and left at least two people dead. The state oil monopoly, Petroleos Mexicanos, evacuated more than 8,000 workers from drilling platforms in the Gulf of Mexico, leaving skeleton crews aboard. The National Hurricane Center said the storm was expected to head west and back over the Gulf of Mexico, where it would likely regain strength and again become a hurricane on Tuesday. It could turn north -- possibly toward the U.S. Gulf coast where it could hit this week. Residents of coastal Louisiana towns started heading north. The Louisana Offshore Oil Port closed its docking bays to tankers Monday as high seas and wind rattled the Gulf of Mexico. GRAINS: Progress with fall harvests helped push grain and soybean futures lower Monday in early dealings on the Chicago Board of Trade. Wheat for December delivery fell 7 cents to $3.93 a bushel; December corn fell 3 3/4 cents to $2.57 a bushel; December oats rose 1/2 cent to $2.01 1/2 a bushel; November soybeans fell 6 3/4 cents to $5.57 3/4 a bushel. METALS: October gold gained 80 cents to $323 a troy ounce on the Comex division of the New York Mercantile Exchange. December silver slid 2 cents to $4.63 an ounce; October Platinum gained $7 to $565 and December palladium fell $1 to $330. URL for this article: online.wsj.com