AFP: "US President George W. Bush on Friday declared a state of emergency in Louisiana, freeing up federal aid. Several oil companies have evacuated workers from their installations in the Gulf of Mexico, where a quarter of US crude oil is produced." ________________________________________________________________ More than 75% of Gulf oil cut off as energy companies evacuate because of Gustav "NEW ORLEANS (AP) - More than three-quarters of the Gulf of Mexico's offshore oil production had been cut off. Energy companies have evacuated petroleum platforms in the face of Hurricane Gustav. The federal Minerals Management Service says the platform shutdowns also cut off 37% of the Gulf's daily production of natural gas. The agency says 717 staffed production platforms and 121 drilling rigs are currently operating in the Gulf. About 35,000 people work in the Gulf, staffing offshore rigs and production facilities. Forecasters say Hurricane Gustav could reach the Gulf Coast early Tuesday."
The way I see it gustav will affect sunday 2pm(us hour) the oil and gas pumps( a quarter from american petrolium ) and the results will be that monday morning everywhere will have an expensive gasoline that means the price of oil goes up and that means eur/usd goes up to , in US monday morning is holiday so we will have low volatility so traders take long on eur/usd in Sydney Tokio and London . Close watch on gustav 2pm(us hour)Sunday if strikes oil and gus pumps and if it is buy it .( My opinion)
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