Oil and natural gas companies shut production across the Gulf of Mexico on Friday as they moved workers out of the path of Tropical Storm Gustav.
Gustav has now strengthened to hurricane status and is expected to move into offshore production areas early next week.
About a quarter of US oil output and 15% of natural gas production is in its path,
The price of US crude oil rose $US3 early on Friday to above $US118 per barrel because of possible disruption to supply.
Strong winds and heavy rain have been battering Jamaica as Gustav makes its way across the island.
More than 60 people were killed as it passed over the Dominican Republic and Haiti.