Oil: The Gustav Factor |
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Hurricane Gustav is expected to hit the Gulf of Mexico (which contains roughly 1/5th of all US oil producing and refining facilities) late Monday or early Tuesday morning, with winds of at least 131 miles per hour. How will this affect the price of oil? In many ways, it already has. People have had some time to digest the news, so the fear factor should already be priced in for the most part. Even with this development, it could not sustain prices above the 120.43 level we were
Filed under: Technical
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