Gustav To Hit Oil Fields
August 30th 2008 17:39
Get ready for oil and gas prices to move higher! First, Hurricane Gustav is now a category three, with max sustained winds of 125 and gusts to 155. Here's a map of the projected path of Gustav and notice in carries right through the offshore oil production and drilling rigs:
Click the image for a larger view
Now look at what happened to oil and gas production due to Hurricane Ivan and then Hurricane Rita/Katrina:
Did we ever recover from the oil production that was lost in 2005? (See Chart)
This time there doesn't appear to be any higher prices in anticipation of Gustav |(and Possibly Hanna to follow) and I'm guessing there might be a surprise surge in price.
In case you are tempted to trade the hurricane, MarketClub has three excellent videos on the subject:
p=0&l=0&campaignid=3" target="_blank">Crude:
p=0&l=0&campaignid=3" target="_blank">Stocks:
p=0&l=0&campaignid=3" target="_blank">Futures:
Now, if you are anywhere close to landfall, be safe and get out of the area.
Now look at what happened to oil and gas production due to Hurricane Ivan and then Hurricane Rita/Katrina:
Did we ever recover from the oil production that was lost in 2005? (See Chart)
This time there doesn't appear to be any higher prices in anticipation of Gustav |(and Possibly Hanna to follow) and I'm guessing there might be a surprise surge in price.
In case you are tempted to trade the hurricane, MarketClub has three excellent videos on the subject:
p=0&l=0&campaignid=3" target="_blank">Crude:
p=0&l=0&campaignid=3" target="_blank">Stocks:
p=0&l=0&campaignid=3" target="_blank">Futures:
Now, if you are anywhere close to landfall, be safe and get out of the area.
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