- Obama Reiterates Commitment to Boost US-India Ties
- FDIC's Bair Cautions on Risks in Bank Break-Up Plan
- Wednesday's Economic News Crunch Could Tilt Markets
- Call Me Crazy: Confessions of a Black Friday Shopper
- 'Very Blah' Christmas Is Coming for UK Retailers
- US Firms Hit by Payroll Taxes at Exactly the Wrong Time
- Citi Mortgage Reveals Something the US Treasury Won't
- Fed Sanguine About US Recovery, Worried on Jobs
- MGM Pitches Sale to 20 Suitors, Including News Corp
- Citi Mortgage Reveals What Treasury Won't
- S&P to Hit 1,200 by Year-End: Chief Investor
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
- Facebook's Biggest-Ever Holiday Shopping Season
- Facebook's New Dual Class Structure - Slow Steps to an IPO
- 5 Big Bank Stocks Investors Should Consider: Strategists
- Gambling Drunk, Texting to Live And America's On Sale - Your Emails
- Nov. 24: Unusual Volume Leaders
- NBA D-League On The Rise
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Wednesday's Economic News Crunch Could Tilt Markets
- The Social Media Gaming Threat
- NBA D-League On The Rise
- Obama Reiterates Commitment to Boost US-India Ties
- Australia Wheat Exporters Face Challenges: GrainCorp
- Stifling Anger at Work Can Kill, Survey Finds
- Japan Export Rebound Eases Fear of New Recession
- China Shipbuilding to Launch $937 Million China IPO
- Rethinking Work
Text Size 
The 2008 hurricane season officially begins on Sunday, and active season could have serious implications for energy prices.
“Just the mere threat of a hurricane, if it comes from June to September 15, is probably enough to send prices up 25 cents or more just on the proviso that it could hit the U.S. Gulf Coast,” says Tom Kloza, senior analyst at the Oil Price Information Service.
As high as energy prices are, traders have barely begun to factor in the risk of a hurricane, according to Kloza, and that could be a problem.
The government is predicting as many as nine hurricanes this season, and Colorado State University’s William Gray sees as many as eight.
“As best we can see it this year, we should have a very active year,” Gray said.
Refineries have been cutting back their production as Americans have cut back their driving. That means gas supplies are tight, and the margin for error even tighter -- leaving room for the perfect energy storm.
Print
Email
- Remember when auto shows were major events where new models could generate buzz?
- CNBC’s Mike Huckman visits a cutting-edge plant to see how the flu vaccine of the future is being made.
- People who bottle up their anger at work are up to five times more likely to suffer a heart attack, a study found.
- Playboy will outsource its publishing operations in a bid to become profitable again.
- A new McDonald's in Manhattan is the nation's first to sport a sleek, chic interior imported from stores in London and Paris.
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
Data is a real-time snapshot *Data is delayed at least 15 minutes