Crude prices are still dropping. WTI will probably drop to under $100.00/bbl today. Dated Brent is currently at $95.50/bbl.
http://www.maroonspoon.com/wx/ike.html
for anyone interested that link has 4 different tv stations out of Houston.
Prayers for all that will be affected by this storm.
VirginiaMom
Interesting the disconnect between crude and gasoline the last few days. Traders probably expect refinery outages in the Houston area to be significant.
Good that some prices are dropping, but I was speaking about the near term with those markets effected by rigs and refineries in the Gulf of Mexico.
Alabama, Mississippi, Louisiana and Texas are carrying the load of suppling energy to several states that do not produce crude.
Here in Charlotte many gas stations are out of gas. Others are putting a limit on how many gallons you can purchase. There is now a run on gas in this area. Prices are rising hourly.
In the past two weeks, oil has dropped consistently but yet the prices at my local station have maintained their 3.49 average. I don’t get it.
Don’t matter.. Pumps are still gonna get hit.. Gasoline supply going to get cut down with the refineries going down.
I expect $5.00 this weekend.