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Gustav and Gasoline: Oil Prices Drop Again as Storm Passes
Posted on September 02, 2008
As quickly as Hurricane Gustavs ominous approach last week sent oil prices up, the storm's weaker-than-feared punch has pulled them back down. Mans slowing oil demand, not natures potential wallop to oil supply, is once again the markets main concern.Assessments of Gustavs damage are still underway, and damage to U.S. oil infrastructure along the Gulf Coast could prove worse than now thought. At this point, though, it appears the storm didn't decimate the Gulf coast's network of rigs, refineries and pipelines nearly as badly as initially feared. This morning, Gustav, still dumping rain on Loui...
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