Hurricane Season 2010

NOAA’s Climate Prediction Center predicts an “active to extremely active” hurricane season for the Atlantic Basin this year.

Across the entire Atlantic Basin for the six-month season, which begins June 1, NOAA is projecting a 70 percent probability of the following ranges:

- 14 to 23 Named Storms (top winds of 39 mph or higher), including:
- 8 to 14 Hurricanes (top winds of 74 mph or higher), of which:
- 3 to 7 could be Major Hurricanes (Category 3, 4 or 5; winds of at least 111 mph)

As with every hurricane season, this outlook underscores the importance for speculators on oil futures.

This year is special due to the on-going oil spill in the Gulf of Mexico. Water, wind, oil and gas will be an awesome foursome at play.

Oilier than ever

Had it not been for the Euro fall, oil prices were all set for a big splash on account of BP screw up. Louisiana leak has prompted an inelastic supply situation once again and going by simple demand-supply rationale, soon we should see a huge northbound movement in oil prices. There are many ifs and buts, but the underlined fact in bold is that, a bigger than ever chunk of human population is being sucked in by the 'involuntary oil addiction' in the 'last days of Iron age.'