1) EIA has already assured us of enough oil to cover any disruptions2) Oil rigs in Gulf are able to withstand these storms. People were evacuated, but rigs will still stand3) global recession + US demand cut = LOWER OIL!!DUHHHHHHHHHHHHHHHHHHHHHHHHHHHH
lol...I wonder if you will be saying that on Tuesday?
oil rigs stop production, thats disrruption of supply for 1 weekgustav not there yetnext variables;next week people are back from vacationhannaopec meeting next monthrussiairan and syriaisrael and palestineetcthere is always something with oil...
Aug. 30 (Bloomberg) -- Crude oil and natural gas climbed after Hurricane Katrina damaged platforms and ports and curtailed production at refineries as it slammed the Gulf of Mexico coast, the source of almost a third of U.S. oil output. http://www.bloomberg.com/apps/news?pid=10000006&sid=aa.pCSozlu2g&refer=home
52wk Range: 1.45 - 33.96 WHO PAID 33?23?13?
"WHO PAID 33" Ya, that sorry sap lost 75% of his money.But who I really feel sorry for is the sorry bastard who shorted @ $1.45/shr. That dumb mofo has lost 600% of his money!!!!You shorts better hope that that hurricane hits precisely where current "predictions" show and that it is at least a Category 4.Otherwise, a nut kicking is coming your way.