Oil prices up despite no known damage by hurricane

Like I said the other day, the factors for high oil prices include pipeline sabotage in Iraq, peak capacity production from most OPEC countries, growing Chinese consumption and more recently the hurricane. The hurricane has come and gone but the prices are still rising. We're trading in a range now and it's going to be closer to its current number than $30 for the time being. The impact on the economy in this range will be interesting to see.