The Oil Drum

290 comments on Cyclone Gonu Thread 1

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Robert Rapier on June 4, 2007 - 11:36am

I am amazed that so far there isn't much reaction. This isn't even on the CNN homepage. And oil prices, while up a little, are not reacting much. Yet.

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Leanan on June 4, 2007 - 11:46am

Dante at PO.com says oil is up 3% in Europe, on shipping concerns.

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Nate Hagens on June 4, 2007 - 11:54am

there is a live chart on the right sidebar just above the site meter showing WTI front month crude, which is up $1.35 -or about 2% just before noon EST. Nat gas up 4% but I think that has more to do with refining arb than the hurricane - how much LNG do we get from Qatar? Not alot now but in 5 years, yes.

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Leanan on June 4, 2007 - 12:12pm

AP thinks Gonu is partly to blame:

Also on traders minds is the Indian Ocean's Tropical Cyclone Gonu, which is threatening the oil-rich Persian Gulf, Flynn said. The storm is also turning some traders' focus to the Atlantic hurricane season, which some forecasts have predicted will be active.

"We've got the bulk of the hurricane season ahead of us," Flynn said.

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Rob-Organic-Chemist on June 4, 2007 - 12:16pm

Word is starting to get out. Posted 12:08 pm

http://www.bloomberg.com/apps/news?pid=20602099&sid=a79exNcmifwE&refer=e...

Tropical Cyclone Gonu strengthened into a Category Four storm with 150 miles-per-hour winds in the Arabian Sea south of Pakistan and is forecast to head for Oman, the U.S. Navy said. The cyclone is moving northwest at 11 miles per hour on a path Navy forecasters expect will take it toward the Gulf of Oman, an important shipping lane for tankers carrying oil from the Gulf.

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