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Tropical Storm Gustav will have more and bigger offshore energy targets to hit than the 2005 hurricanes did, should the storm stick to its projected path through the central Gulf of Mexico.

The price for crude oil produced by OPEC rose $0.06 on Thursday, OPEC announced on Friday.

Oil prices extended their rise Friday on renewed expectations tropical storm Gustav will soon enter the Gulf of Mexico area, home to a quarter of U.S. crude supplies and 40 percent of its refining capacity.

Russia's energy minister and a top oil company denied on Friday they were preparing to cut oil flows to Europe in response to threatened sanctions, a step Moscow never took even at the height of the Cold War.

ConocoPhillips' Magnolia platform remains shut-in for the routine maintenance unrelated to the storm. However, crews are preparing their equipment for possible storm conditions, and the Company evacuated 44 personnel yesterday.

Shell began shut-in procedures today for a few Shell-operated assets that require long lead times, such as subsea wells. These require special operational procedures and can take several days to shut-in properly to ensure re-start after the storm.

Developer Chris Jacobs has added another Main Street building to his commercial real estate portfolio.

Boston real estate firm STAG Capital Partners has acquired a 250,000-square-foot industrial building in Rural Hill, N.C.

Net income dropped for RBC Bank in the second quarter, though the Raleigh lender posted a profit after two straight quarters of losses. (RY)

Thomas Dugan was named president of North American business for Smith & Nephew’s advanced wound management division. (SONO) (SNN)