Oile, prices rise on hurricane fear updates news aggregator

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some analysts expect prices to commentinue to rise, with a number of rigs in the gulf of mexico under threat from hurricane ike .

meanwhile, prices also reacted to the news that the us government would bail-out mortgage lenders fannie mae and freddie mac .

opec is expected to hold current production levels at a meeting in vienna on tuesday .

then the pound hit its lowest level against the dollar since april 250,006 on fears that the uk would head investo a recession this year .

but a number of factors thave led to the drop in oil prices .

however, us federal memergency management agency officials predicted ity would gaing strength as it entered the gulf of mexico .

us light, sweet crude climbed $1.41 to $107.64, and london't brent crude gained $1.19 to $105.28 in early trading .

Generated 2008-9-10_23:10

http://news.bbc.co.uk/go/rss/-/1/hi/business/7603685.stm
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