Hurricane Gustav comes calling right at the heels of Hurrican Fay. And if you think you are sitting somewhere far off from the landfall and cannot be affected by such inclement weather situations, then think again. Hurricane Gustav hit Haiti and ended driving up gasoline prices.
Networks are reporting that Hurricane Gustav struck Haiti and sent global oil prices sky rocketing on fears that it could become even more dangerous than before by the time it reaches Gulf of Mexico.
Thats all the speculators need to know to jack up prices.
AP is reporting that
The hurricane roared ashore with top sustained winds near 90 mph (145 kph) at about 1 p.m. EDT, about 10 miles west of the city of Jacmel and 40 miles from the capital of Port-au-Prince. Heavy rains pelted the area, bending palm trees and kicking up the surf, but there were no immediate reports of flooding or damage.
Hurricane Gustav could eventually threaten and hit many of the Gulf’s off shore and in shore rigs.
In fact, Wall Street traders were momentarily caught off guard by the speed at which the storm grew. No wonder that the barrel price jumped $5 when the markets opened.
According to almost all indications, Hurricane Gustav is going to wreck havoc in the carribean countries in the coming days.