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Oil surges $2 to near $109 on hurricane threat

Reuters - 2 hours, 57 minutes ago

PERTH (Reuters) - Oil jumped than $2 to near $109 a barrel on Monday, rebounding from a five-month low on worries that Hurricane Ike would tear through the Gulf of Mexico, and on hopes that a U.S. bailout of its top mortgage lenders would help temper an economic downturn.

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A fuel price board at a service station in Manila in early August. OPEC ministers are headed for Vienna to wrestle with the issue of falling oil prices, with analysts ...

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