Oil Higher in Emergency Sunday Session

In an emergency trading session before Hurrican Gustav makes landfall the crude oil futures market has traded from $116.65 per barrel to $118.60 per barrel and at 2:50 PM EDT October Crude Oil futures stand at $117.90 per barrel up $2.44 per barrel.

UPDATE: Monday afternoon, 5:09 EDT - October Crude Oil Futures are down $.31 per barral at $111.15. Interesting, a hurricane blows through the Gulf of Mexico oil fields, it blows through the oil industry town of Morgan City and crude is down over $4.00 per barrel.