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Storm Surge: Gustav Fears Send Oil Price Up

Posted on August 27, 2008

Tropical Storm Gustav has thoroughly spooked the energy markets, driving oil close to $118 and threatening even more. Gustav's five-day projected path (NOAA)The storms latest projected path, according to the National Hurricane Center, marks a potential landfall stretching from the edge of Texas to the Florida panhandle. Louisiana is smack in the middle, with lots of bad memories. From Bloomberg: The forecasts have Gustav heading for Louisiana, which is very bad news, said Peter Beutel, president of energy consultant Cameron Hanover Inc. in New Canaan, Connecticut. If the storm track ho...

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demand , oil price