Updated from 11:29 a.m. EDT
The volatility in U.S. energy markets shows no sign of abating as refiners, drillers and transport companies grapple with a labyrinth of problems in trying to restore their storm-ravaged capacity.
Crude futures zigzagged all week as pessimism over rig and refinery destruction in the Gulf Coast was occasionally offset by moves to bring emergency energy stockpiles to bear. The October contract closed at $67.57 a barrel Friday, down $1.88 from the previous close but up about 2% since Hurricane Katrina came ashore.
Trading was even more frenzied in unleaded gasoline markets, where front-month contracts for a gallon of unleaded added about 30%, although they closed down 26 cents at $2.14 on Nymex. Both crude and unleaded gasoline eased Friday as companies reported halting success bringing pipeline and other transportation capacity back online. ...
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