Gas prices news may 11 2011 - Gas Prices Rise On Concerns Flooding Mississippi River Could Damage Refineries

Gas prices news may 11 2011 - Gas Prices Rise On Concerns Flooding Mississippi River Could Damage Refineries : Oil prices have swung sharply since the beginning of May, dropping 15 percent last week before rebounding about 6 percent so far this week. Investor concern that flooding on the Mississippi River could damage refineries and disrupt fuel shipments helped push crude higher Tuesday.

The flooding is the latest in a series of events that have rocked oil markets this year, including political uprisings throughout North Africa and the Middle East and the violent conflict in Libya.

It has been a rare and strange year since the first ripple of discontent in Tunisia," Cameron Hanover said in a report. "And events that have happened since have only magnified the volatility of a nervous and jittery market."

In other Nymex trading in June contracts, heating oil added 0.2 cent to $3.00 a gallon and gasoline fell 4.9 cents to $3.33 a gallon. Natural gas futures were up 0.3 cent at $4.25 per 1,000 cubic feet. For the latest updates PRESS CTR + D or visit Stock Market news Today

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