If it doesn't get there, prices will rise again. They may not be able to find the ships. |
Much of the fall in prices has been on the fact that some of the supplies to the U.S. are products and not crude. |
The threat is fresh and direct, and therefore significant to the ongoing stability of the oil-rich region. The light, sweet Nigerian crude grade that could be affected is also highly attractive. |
Wilma has very quickly strengthened to a storm with winds of 175 miles per hour -- that's stronger than Katrina and Rita. Although it's not on course to hit oil platforms, it's still a few days away and if there's a slight change in course to the west, markets will jump aggressively higher. |