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See What People Are Saying About... Oil Prices After Gustav

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Oil companies, rig and pipeline owners and refiners spread out across the Gulf Coast to look for damage from Hurricane Gustav on Tuesday, and some were already putting equipment and people back in place to resume operations.

Early indications were that Gustav caused little damage to onshore and offshore facilities, though the full impact likely won't be known for a couple of days.


"Preliminarily, we don't know of any major damages at this time," John Rodi, deputy regional director of the U.S. Minerals Management Service, said Tuesday.

The approach of Gustav had been one of the last remaining pillars of support for oil prices, which tumbled Tuesday by more than $6 a barrel on the New York Mercantile Exchange, a decline of 26 percent from record highs of more than $147 in July.

And that leads to our Fast Money Reader Poll.




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