Sep 01 2008
Tropical Storm Ike or Hurricane Ike May Raise Crude Oil Prices
Tropical Storm Ike or Hurricane Ike May Raise Crude Oil Prices
According to the Associated Press Tropical Storm Ike has formed in Atlantic Waters. Ike has maximum sustained winds of 50 mph and has been spotted 1,400 miles on the eastern side of Leeward Islands, heading west.
Aside from the prediction that Tropical Storm Ike would mark a path towards the Bahamas, storms very often seem to have a mind of their own which follows an unknown course. However, Ike is expected to reach hurricane status within the next three days.
Following Hanna, Ike gives worry to oil (raising crude oil prices) and natural gas producers as well as farmers, and residents on the United States coast and Caribbean. Ike, numbering the fifth of hurricane possibilities of the season, starting June 1, and the ninth storm of the year shows the year way ahead of schedule.
A tropical wave is forming off of South Africa, coming behind Ike, may form into a tropical depression which is the step just before developing into a tropical storm. Which means we may be looking at Tropical Storm Josephine before long.
