Oil stays strong on Gustav threat

August 27, 2008

Oil prices jumped as high as $119 on Wednesday with predictions Gustav will deliver a powerful blow to U.S. Gulf energy operations Falling U.S. energy inventories also supported the price move higher. More people are living in extreme poverty conditions in the developing world, according to the World Bank. Speaker: Raymond Carbone, president, Paramount Options Conway Gittens reports from New York.