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Financial In Market By Freddie Mooche

(AXcess News) The tropical storm that has now been lifted to hurricane status with 75mph winds is forecast to miss Gulf Coast oil and gas rigs as the21st storm of the hurricane season, named Wilma, is set to move toward Florida's coastline. The path of hurricane Wilma eased crude oil futures prices in the commodity trading pits in New York where Oil for November delivery was last quoted at $63.50, 30am EST Tuesday.

Oriental Trading (AXcess News) New York - The tropical storm that has now been lifted to hurricane status with 75mph winds is forecast to miss Gulf Coast oil and gas rigs as the21st storm of the hurricane season, named Wilma, is set to move toward Florida's coastline.

Gasoline futures followed crude oil's decent in trading Tuesday with the NYMEX quoting wholesale gasoline at $1.735 a gallon, day trading. Heating oil was also down 5 cents at $1.93. Hurricane Wilma is centered approxamitely 245 miles southeast of Grand Cayman Island. The storm set a record for the number of tropical storms and hurricanes recorded for the Atlantic hurricane season, which has not been matched since 1933.

Financial Forex Forex Software The path of hurricane Wilma eased crude oil futures prices in the commodity trading pits in New York where Oil for November delivery was last quoted at $63.50, down 83 cents a barrel at 11:30am EST Tuesday.

By contrast, the National Hurricane Center was forecasting at the same time a much more generalized landfall area somewhere between Biloxi, Miss., and Panama City, Fla.

Trading The National Hurricane Center said Wilma is expected to hit Florida's southwestern coast this weekend. Prices on the New York Mercantile Exchange had surged yesterday over fears of hurricane Wilma moving into the Gulf of Mexico where production levels are only at 66 percent.

Last May the OECD forecast the U.S. economy to grow at a rate of 3.3 percent. The report stated that U.S. consumer spending remains strong, supported by higher wages and rising home values. Government spending and higher revenues from U.S.-based oil producers have aided the U.S. economy as well, the OECD said. Business spending was also noted to remain strong as was a decline in U.S. unemployment following the hurricanes.

Trading Financial System Gasoline futures followed crude oil's decent in trading Tuesday with the NYMEX quoting wholesale gasoline at $1.735 a gallon, down 8 cents in mid-day trading.

Dollar gains yesterday were also supported by the declining oil prices that hit a 19 month low yesterday. Due to the comfortable weather and the overall declining demand for oil products, crude oil is currently trading around a barrel. Lower energy costs are considered positive for economic growth as they constitute a sizable portion of overall inputs prices. This allows manufacturers to lower prices and consumers to buy more.

Day Trading Heating oil was also down 5 cents at $1.93.

Forex Financial Trading The Hurricane Wilma is centered approxamitely 245 miles southeast of Grand Cayman Island. The storm set a record for the number of tropical storms and hurricanes recorded for the Atlantic hurricane season, which has not been matched since 1933.

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