Brak wants to know, ';Why are oil prices going up if Hurricane Felix didn't threaten the Gulf oil rigs';

It's now above $75 a barrel and that's like a whole lot of money for crude oil. But Hurricane Felix did not threaten many of the oil rigs. I don't see another named storm coming up yet. What is the deal here?





Last year we hit a record of $79 a barrel for crude oil, let's not do it this year.Brak wants to know, ';Why are oil prices going up if Hurricane Felix didn't threaten the Gulf oil rigs';
Well first off there is a lot of oil production in that area of Mexico.





the storm would stop ships going from Mexico to the US gulf.





Second the oil market tends to be very paranoid. If their is a hint of a supply shortage their will be a spike.Brak wants to know, ';Why are oil prices going up if Hurricane Felix didn't threaten the Gulf oil rigs';
As usual Americans being taken advantage of by the corrupted Bush Govt.
Because people had to evacuate and work was stopped or interruptedals alot of people work on the rigs need to help their families,keep in mind this is the second time,also you still have to evacuate because wind reach 500 to600 miles from storm
Well, the rain and wind that was swept off Hurricane Felix came up to the oil rigs up off Texas. That forced people to evacuate the oil rigs. So production is a bit lower there.
they figure you can afford it.

la mer