Tue 14 Jul 2009 | 22:10 EDT
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Oil stays strong on Gustav threat

(01:28) Report

Aug. 27 - Oil prices jumped as high as $119 on Wednesday with predictions Gustav will deliver a powerful blow to U.S. Gulf energy operations.

  • Falling U.S. energy inventories also supported the price move higher.
  • More people are living in extreme poverty conditions in the developing world, according to the World Bank.

    Conway Gittens reports from New York.

    Speaker: Raymond Carbone, president, Paramount Options

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