Oil Prices Climbing Amid Hurricane Watch

United Press International

Crude oil prices resumed their slow advance Tuesday as traders kept an eye on the weather in the Gulf of Mexico and Hurricane Gustav.

Crude oil for December delivery closed up $1.16, or 1.01 percent, at $116.27 a barrel .

Investors were following the hurricane's path as it moves toward the Gulf of Mexico, a major offshore drilling and energy-transport hub.

The National Hurricane Center said most indications are the storm "will be an extremely dangerous hurricane" and reach the gulf by early Sunday.

Natural gas was up, 45 cents at 8.28 per million British thermal units.

Heating oil was up 6.06 cents at 320.99 pennies a gallon.

Reformulated gas was up 8.74 cents at 296.07 cents a gallon.

The average price in the United States for a gallon of regular unleaded gasoline was $3.672, down a tad from $3.681, the AAA reported.