The big jumps in price occurred today whenever new weather reports came out comfirming bad news about Rita. Anyone who paid attention to the weather over the weekend and bought crude at 8am this morning would have done very nicely thankyou very much.clv101 wrote:Can't remember the last time I saw prices jump $3.50 in a single day, is this just Rita or is Iran causing any of this? Has any more information about Katrina damage surfaced?
...and natural gas is up 10%.
Incidentally, our in-house weather people recommend this website as superior to the National Hurricane Center for track forecast:
http://www.wunderground.com/tropical/tr ... model.html
The NHC forecast is an attempt to be 'least wrong', but seeing the various computer models gives a much better idea of when a hurricane path is more or less certain.
As I understand it, the red line methodology is known to be particularly good at forecasting gulf hurricanes. I hear it's known as the "Red Dragon" by meterologists.