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Oil Rises Above $97 to a Record


Crude oil rose above $97 a barrel in New York to a record as a storm forecast to produce 36-foot waves in the North Sea forced BP Plc and ConocoPhillips to evacuate workers and cut production.

Conoco and BP said they have started evacuating workers from some facilities before the weather worsens. The North Sea produced 4.4 million barrels of oil a day last year, more than OPEC member Iran. An Energy Department report tomorrow will probably show crude-oil supplies fell 1.5 million barrels last week, according to a Bloomberg News survey. [MORE]



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