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Petroleum prices are increasing

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The price of a petroleum barrel has lately increase rapidly in the New York Stock exchange, due to the hurricane Katrina and the shut down of oil production in the Gulf of Mexico.
Authorities inform that four days after the hurricane 90% of the petroleum companies were paralyzed. Since August 26th they have only been able to produce 7,442 barrels of crude oil which is approximately 1,36% of the total annual petroleum production in the Mexican Gulf.
The New York Mercantile Exchange, says that the barrel of “light sweet crude” for delivery in October increased 53 cents and is now selling at $ 69.47 dollars. Last Tuesday the cost per barrel reached a record and traded at $ 70,85 per barrel during the day.

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