BTW, if this doesnt prove that life imitates art, what does? Anyone remember that fictitious documentary last spring called "Oil Storm" on FX? From the synopsis: "Oil Storm examines what happens when a Category 6 hurricane in the Gulf of Mexico slams into Louisiana, crushing the city of New Orleans and crippling the vital pipeline for refined oil that is Port Fourchon. It examines the ripple effect of that event and the ensuing cascade of disasters associated with it..." http://www.fxnetworks.com/shows/originals/oilstorm/main.html
(AP) â When Hurricane Katrina hits New Orleans on Monday, it could turn one of America's most charming cities into a vast cesspool tainted with toxic chemicals, human waste and even coffins released by floodwaters from the city's legendary cemeteries. Experts have warned for years that the levees and pumps that usually keep New Orleans dry have no chance against a direct hit by a Category 5 storm. That's exactly what Katrina was as it churned toward the city. With top winds of 165 mph and the power to lift sea level by as much as 28 feet above normal, the storm threatened an environmental disaster of biblical proportions, one that could leave more than 1 million people homeless. http://www.mlive.com/newsflash/nati...al-50/1125269941148793.xml&storylist=national
The Open on Crude was to be expected. But look at natural gas go? What gives? 22%? March Crude now $71
What do you mean "what gives"? All the fundamental considerations that apply to oil with this storm also apply to gas, even moreso in fact.
Not watching it at all, just curious to see the highest priced contract. Looks like nat gas is pulling back slightly. But so did crude moments ago and now it's going back up.
will be interesting to see if the overnight spike highs are touched again in when NYMEX opens outcry trading monday am :eek: