Long Oil at Open

National Weather Service: Rita seen growing into major Hurricane - DJ

DJ also reports that according to NWS, models indicate Rita landfall in Texas or Louisiana.
 
This thread was one of the best trade recs I've ever seen on this board. Oil peaked almost $4 higher on the day

I feel sorry for those it's aimed for. Aren't all the evacuees from new orleans in makeshift buildings in Houston. Noone can have that much bad luck surely... :confused:
 
We (Houston) floods very easy but the good thing is we are above sea-level. The energy concerns are our major refineries, we refine the most in the nation, about 25%.
 
Quote from reno4nook:

The current trend for oil is down, due to decreasing demand.

Also, OPEC is meeting on Monday and may announce increased production.


Going long on oil could be a high risk trade, imho.
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How do you know this?
 
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