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Updated from 11:12 a.m. EST

A spectacular fire burned a storage facility on the Staten Island section of New York City Friday morning, killing one worker and briefly rattling market nerves as traders worried about its cause. Authorities said the fire wasn't suspicious.

Televised reports of the blaze caused a $1-a-barrel increase in crude futures and initially depressed the stock averages, although they soon bounced back and in fact rallied on the day. The FBI said it has no reason to believe the incident was terrorism related.

An enormous plume of black smoke rose almost straight up from the facility, which is located on the southwest tip of the island. Fire officials received the first report at about 10 a.m. EST. The barge was carrying 100,000 barrels of unleaded gasoline

The facility is owned by

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New York Mayor Michael Bloomberg said the blaze was contained mainly on the water and on two barges -- the one that exploded and then sank, and another that caught fire.

``The fire has basically been burning itself out,'' Bloomberg said. ``There is absolutely no evidence and no reason this think at this moment that this is anything other than a tragic accident.''