Aug. 31 (Bloomberg) -- Hurricane Gustav strengthened to a ``dangerous'' Category 4 storm that threatens to strike U.S. oil and natural-gas producers and refiners harder than hurricanes Katrina and Rita did three years ago.
The hurricane prompted a special trading session for today at the New York Mercantile Exchange.
The hurricane prompted a special trading session for today at the New York Mercantile Exchange.
``This storm will prove to be a worst-case scenario for the production region,'' Jim Rouiller, senior energy meteorologist for Planalytics.com, said yesterday in an e-mailed message. ``This storm will be more dangerous than Katrina.''
That pre-weekend oil drop could prove to be the biggest oil bear trap in some time, something I was worried about on Thursday.
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on Sunday, August 31, 2008 at 8/31/2008 01:01:00 AM.
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