The fact that Gustav is going to have an impact on the Oil market and Gas prices in US is a given. What we can debate on however is, how much will be the impact.
Available news reports show that oil prices fluctuated sharply when it became known on Thursday that Hurricane Gustav has spun toward the Gulf of Mexico and was gaining strength with every passing hour.
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.
