Hurricane Isaac makes a second landfall at Port Fourchon, LA.; it is becoming clearer that the threat at from this slow moving storm may not come from the winds but the possible flooding. While oil prices have fallen on the expectation that demand for oil will be impacted by this storm in the aftermath of the storm the demand for higher quality crude could drive WTI higher when the damage becomes clearer. With flood defenses already being breeched in southeast Louisiana the impact of this storm on oil production and refineries cannot be underestimated just yet.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.
Read More on International Business Times
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.