Thursday, September 20, 2007

Oil Hovers Above $82 on Worries of Supply Crunch

Oil hovered around $82 a barrel on Thursday as sinking U.S. crude inventories and the threat of a storm gathering near Florida increased worries of a winter supply crunch in the world's top consumer.

Oil has traded above $80 for the past week but OPEC officials and oil analysts say the lofty price is unsustainable. CNBC

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