Consequence. The price of oil rose yesterday by more than one U.S. dollar, exceeding 116 U.S. dollars per barrel, after U.S. companies have closed nearly all oil installations in the Gulf of Mexico and refineries on the coast, waiting for Hurricane Gustav, according to Reuters.

The price of oil for the U.S. market, with delivery in October, climbed to 1.11 U.S. dollars at 116.57 U.S. dollars per barrel before lunch. Nevertheless, oil has not climbed much more than the price of 111 U.S. dollars per barrel reached in august, which represented the minimum of the last three months and a crash from the record of 147.27 U.S. dollars per barrel recorded in mid-July.