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Crude oil jumps above $84
Crude oil prices jumped above $84 a barrel late on Thursday after production platforms in the Gulf of Mexico were shut down ahead of a threatened tropical storm.
Nymex October West Texas Intermediate hit a record $84.10 a barrel, up $2.17, but settled at $83.32, up $1.39 on the day. The October contract expired at the end of trading. The most active November WTI contract was up $1.05 at $80.75.
ICE November Brent closed 62 cents higher at $79.09 after peaking at an all-time high of $79.23.
Oil companies such as BP and Shell closed about 360,000 barrels a day of production or 27 per cent of the total in the Gulf of Mexico.
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