Ike stormed ashore this weekend and everyone feared the worst. With Galveston hit by the storm surge and millions in damage in Houston’s downtown, gas prices in the Gulf shores were jumping to $5 and $6 per gallon. The Texas coast and vicinity is home to 20 percent of the nations oil refinery capacity. As [...]
In football, it may be like offsetting penalties. Pass interference 30 yards down field but your front line gets called for holding. Geez! Today, crude dropped to the $100 mark – something it hasn’t seen since the first week of April. That’s the good news. The bad news is that Hurricane Ike has impacted much [...]
And I don’t mean on the way up, either. The Gustav effect has passed, the summer driving season in the US is over and Gasoline/crude supply is flush. That giant ‘woosh’ sound are the investors fleeing the market. On the overnight Asian markets, crude dropped to around $106/bbl. London and the NY Merc are next! [...]
After rising slightly on the London Exchange, oil futures retreated on news from the US Gulf that Hurricane Gustav was downgraded to a Category 2 storm. Initial concerns that Gustav would wreak havoc and destruction to oil and gas producing platforms has subsided. TAE will continue to monitor the situation with Gustav making landfall and [...]
TAE usually focuses on gas prices, because as we all know, the squeaky wheel gets the grease – for now. My hunches are based on my perception…when something that flares up domestically or around the world, I ask myself ‘what will the residual effect be?’
Another ‘perception’ watch to add to the Russia – Georgia conflict for oil markets: Hurricane Fay I don’t want to be a pessimist, but the way the 24hr news channels are hyping Fay’s approach on Florida, I am expecting a cable station running a live remote interview with a sheppard named ‘Noah’ and his passion [...]
Much to the eternal nay-sayers dismay, Tropical Storm Dolly will not have significant effect on oil derricks in the Gulf of Mexico. The pause in the drop of the price of crude was a momentary lapse and oil continued it’s decline on Tuesday.
