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US Hurricanes

The storm season runs from June 1 to November 30 and the worst part of it usually is between mid-August and late October. The average season produces about 10 tropical storms, of which six develop into hurricanes. Last year saw 28 storms in a record-shattering season that lasted until early January.



It is perfectly normal for the first two or three months of a season to be fairly quiet.

 

Tropical Storm Chris rapidly ran out of steam as it pushed across the eastern Caribbean, prompting forecasters to say it was unlikely to become a hurricane. Oil prices dropped.

 

NEW YORK (MarketWatch) -- Crude-oil prices traded at their highest level in two weeks as fears a potential hurricane in the Caribbean may pose a threat to oil installations in the Gulf of Mexico outweighed supply data showing a smaller-than-expected decline in gasoline inventories.

The market is "building in a fear premium" with regards to Tropical Storm Chris, with what "looks like a push toward $80 a barrel," said Michael Cavanaugh, analyst at Myfuturesonline.com. "If the hurricane does not go through, we'll fall off ten bucks."

Tropical Storm Chris could become a hurricane later Wednesday or early Thursday, according to the latest National Hurricane Center forecast. It's expected to pass north of the northermost Leeward Islands of the Caribbean later this morning. The Virgin Islands and Puerto Rico are likely to see heavy rain later tonight and early Thursday morning.

Crude for September delivery was last up $1.34 at $76.25 a barrel, its highest level since July 18. Unleaded gasoline futures were up 5.88 cents at $2.3350 a gallon.

 

If got major hurricane, oil prices will shoot up again.

 

Hurricane season started on June 1 and lasts until Sep/Oct. So far, tropical storms have not strengthened to hurricanes yet.

 

Not yet .. Think US hurricane season is mid Aug onwards. Posted question after reading following in POEMS' AFX News:

16:09

Oil climbs above 76 usd on concerns over US hurricanes, Mideast fighting

16:09

Oil climbs above 76 usd on concerns over US hurricanes, Mideast fighting

17:13

Oil climbs above 76 usd on concerns over US hurricanes, Mideast fighting

 

got hurricanes meh? I checked CNN and didn't see any mention of that.

 

As in, it happens yearly, so effects factored in? Unless, it's a surprisingly big one?

 

Will the US hurricanes have adverse effects on the market?