MARKETS

Stormy memories send chill through US dealers

WILL Arlene be as destructive as Ivan? Crude oil prices surged by 3.3% to over US$54 per barrel on Thursday as tropical storm Arlene bore down on the Gulf of Mexico and dealers remembered the devastation Hurricane Ivan caused last September.

Arlene, the first named storm of the 2005 hurricane season, had some US dealers and oil companies worried it might strengthen on its northern track toward the Gulf Coast, home to the majority of US refineries....

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