Tuesday, May 10, 2011

Mississippi River rises close to record levels

Memphis, Tennessee »

Crude Oil Rises to Four-Day High on Mississippi Floods, Rally in Equities

May-10-2011--Crude oil rose to a four-day high as concern increased that flooding of the Mississippi River will disrupt fuel output and as equities climbed.

Futures advanced 1.3 percent as the flood moved south from Memphis, threatening refineries and shipping traffic before emptying into the Gulf of Mexico in about two weeks.

Stocks strengthened as companies raised earnings forecasts, sending the Standard & Poor’s 500 Index up for a third day. “The flood is impacting supply and will continue to put upward pressure on prices,”

Video: Mississippi River rises close to record levels

Mississippi River floods

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