NYMEX crude oil futures 29 Asian electronic market close to 117 Dollars / barrel

affected by concerns about tropical storms, NYMEX crude oil futures rose to near $117 a barrel in Asia on Tuesday, as markets focused on the September 9 opec meeting and tensions between Russia and Georgia, August 29 (XINHUA) -- New York Mercantile Exchange (NYMEX) crude oil futures rose more than $1 to $117 a barrel in Electronic Trading in Asia on Tuesday, as preparations by energy companies for Tropical Storm Gustav suggest the storm could be the most damaging hurricane to core U.Soffshore production since the 2005 hurricane season12:20 BST, NYMEX October crude futures rose $1.33 to $116.92 a barrelThe contract fell $2.56, or 2.2 percent, to $115.59 a barrelIntercontinental Exchange (ICE) October Brent crude futures rose $1.29 to $115.46 a barrelThe contract fell $2.05 to $114.17 a barrelexpect Tropical Storm Gustav to strengthen into a hurricane as it approaches the Gulf of Mexico by the 29th, where a quarter of U.Scrude oil production and 15 percent of natural gas production come fromin u.SLabor Day (U.SBefore the Labor Day holiday, NYMEX crude oil futures trading was relatively quietoil companies are bracing for the storm, which is expected to become a major hurricane on the 30th and could reach catastrophic intensityon the other hand, the International Energy Agency has suggested that a sharp drop in oil supplies in the Gulf of Mexico will help coordinate the release of some oil stocks from member states, fearing the impact of the storm, the U.SDepartment of Energy said it would use its strategic oil reserves of 707m barrels if oil supplies were severely affectedthe statements allayed concerns that Gustav would disrupt U.S oil supplies traders are waiting for a meeting of the Organization of the Petroleum Exporting Countries in Vienna on September 9th and are concerned about tensions between Russia and Georgia 　　NYMEX on-market trading will be closed for one day on September 1, but global electronic trading will not be affected affected by concerns about tropical storms, NYMEX crude oil futures rose to near $117 a barrel in Asia on Tuesday, as markets focused on the September 9 opec meeting and tensions between Russia and Georgia , August 29 (XINHUA) -- New York Mercantile Exchange (NYMEX) crude oil futures rose more than $1 to $117 a barrel in Electronic Trading in Asia on Tuesday, as preparations by energy companies for Tropical Storm Gustav suggest the storm could be the most damaging hurricane to core U.S offshore production since the 2005 hurricane season 12:20 BST, NYMEX October crude futures rose $1.33 to $116.92 a barrel The contract fell $2.56, or 2.2 percent, to $115.59 a barrel Intercontinental Exchange (ICE) October Brent crude futures rose $1.29 to $115.46 a barrel The contract fell $2.05 to $114.17 a barrel expect Tropical Storm Gustav to strengthen into a hurricane as it approaches the Gulf of Mexico by the 29th, where a quarter of U.S crude oil production and 15 percent of natural gas production come from in u.S Labor Day (U.S Before the Labor Day holiday, NYMEX crude oil futures trading was relatively quiet oil companies are bracing for the storm, which is expected to become a major hurricane on the 30th and could reach catastrophic intensity on the other hand, the International Energy Agency has suggested that a sharp drop in oil supplies in the Gulf of Mexico will help coordinate the release of some oil stocks from member states, fearing the impact of the storm , the U.S Department of Energy said it would use its strategic oil reserves of 707m barrels if oil supplies were severely affected the statements allayed concerns that Gustav would disrupt U.S oil supplies traders are waiting for a meeting of the Organization of the Petroleum Exporting Countries in Vienna on September 9th and are concerned about tensions between Russia and Georgia 　　NYMEX on-market trading will be closed for one day on September 1, but global electronic trading will not be affected (name)