NYMEX crude oil futures 28 Asian electronic market close to $119/barrel

affected by supply concerns and the rise of the euro, NYMEX crude oil futures rose to near $119 a barrel in Asia on the 28th, the market is concerned about the progress of Tropical Storm Gustav, July 28 (Xinhua) -- New York Mercantile Exchange (NYMEX) crude oil futures rose for the fourth day of the Asian electronic trading session on Tuesday, as concerns that a tropical storm would escalate into the biggest threat to U.Soffshore oil production since 2005, while the euro rose in the wake of inflationary comments from the European Central BankAsian stocks were flat, commodity-related stocks were boosted by higher crude oil pricesOil prices have rebounded $7 since hitting a three-month low two days agothe euro continued to rebound from a six-month low hit on the 26th as European Central Bank officials weakened expectations of a rate cut overnightSome officials have even suggested that a rate hike may be necessary, even though the economy is slowing and may already be in recession12:16 A.M., NYMEX October crude futures rose 80 cents to $118.95 a barrelThe contract rose $1.88, or 1.6 percent, to $118.15 a barrelGustav has weakened from hurricane-level to tropical storm this week (the week of August 26), but still poses a threat to 85 percent of U.Soffshore oil production, supporting oil pricesIf Gustav hits the Gulf of Mexico as a Category 3 hurricane, it will be the largest storm to cause damage to infrastructure in the region since 2005Royal Dutch Shell Co said it could start shutting down production there as early as 28 and expects to evacuate 1,300 staff by the 30th's weekly crude oil and oil inventory data released on Tuesday did not alter concerns about U.Soil demandU.Scrude inventories fell by about 200,000 barrels in the week ended Aug 22, according to the U.S Energy Information Administration, after an earlier forecast of a decline of 1 million barrels Gasoline inventories fell 1.18 million barrels, having been expected to fall 2.5 million barrels U.S gasoline demand fell 1.5 percent in the month ended Aug 22 from a year earlier , affected by supply concerns and the rise of the euro, NYMEX crude oil futures rose to near $119 a barrel in Asia on the 28th, the market is concerned about the progress of Tropical Storm Gustav , July 28 (Xinhua) -- New York Mercantile Exchange (NYMEX) crude oil futures rose for the fourth day of the Asian electronic trading session on Tuesday, as concerns that a tropical storm would escalate into the biggest threat to U.S offshore oil production since 2005, while the euro rose in the wake of inflationary comments from the European Central Bank Asian stocks were flat, commodity-related stocks were boosted by higher crude oil prices Oil prices have rebounded $7 since hitting a three-month low two days ago the euro continued to rebound from a six-month low hit on the 26th as European Central Bank officials weakened expectations of a rate cut overnight Some officials have even suggested that a rate hike may be necessary, even though the economy is slowing and may already be in recession 12:16 A.M., NYMEX October crude futures rose 80 cents to $118.95 a barrel The contract rose $1.88, or 1.6 percent, to $118.15 a barrel 　　Gustav has weakened from hurricane-level to tropical storm this week (the week of August 26), but still poses a threat to 85 percent of U.S offshore oil production, supporting oil prices If Gustav hits the Gulf of Mexico as a Category 3 hurricane, it will be the largest storm to cause damage to infrastructure in the region since 2005 Royal Dutch Shell Co said it could start shutting down production there as early as 28 and expects to evacuate 1,300 staff by the 30th 's weekly crude oil and oil inventory data released on Tuesday did not alter concerns about U.S oil demand U.S crude inventories fell by about 200,000 barrels in the week ended Aug 22, according to the U.S Energy Information Administration, after an earlier forecast of a decline of 1 million barrels Gasoline inventories fell 1.18 million barrels, having been expected to fall 2.5 million barrels U.S gasoline demand fell 1.5 percent in the month ended Aug 22 from a year earlier (name)