By Grant Smith
Sept. 4 (Bloomberg) -- Crude oil rose for the first time in five days as Hurricane Ike strengthened in the Atlantic and the dollar declined, boosting the appeal of commodities as a hedge.
Crude oil for October delivery rose as much as $1.25, or 1.1 percent, to $110.60 a barrel on the New York Mercantile Exchange, trading for $110.41 at 10:07 a.m. London time.
To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net
Thursday, September 4, 2008
Crude Oil Rises as Hurricane Ike Strengthens, U.S. Dollar Drops
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