Arizona Republic: Energy: Oil futures close higher amid production woes: Crude-oil futures settled higher Tuesday after Royal Dutch/Shell Group confirmed continuing production problems in the Gulf of Mexico. (ShellNews.net)

Oct. 27, 2004

NEW YORK - Crude-oil futures settled higher Tuesday after Royal Dutch/Shell Group confirmed continuing production problems in the Gulf of Mexico.

At the New York Mercantile Exchange, crude oil for delivery in December rose 63 cents, to settle at $55.17 a barrel. January crude oil gained 59 cents, to $54.76 a barrel.

Shell said that 70,000 to 80,000 barrels a day of oil production remained offline in the wake of Hurricane Ivan but that it expected to bring production back.

http://www.azcentral.com/arizonarepublic/business/articles/1027natwldbrfs27.html