Likewise, check airline stocks and oil stocks as counter plays in each direction.
AP News:
Oil prices rose to above $117 a barrel Wednesday on concerns that Tropical Storm Gustav may disrupt operations in the Gulf of Mexico, home to a quarter of U.S. crude production.
By midday in Europe, light, sweet crude for October delivery was up $1.40 at $117.67 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.16 overnight to settle at $116.27 a barrel.
In London, October Brent crude rose $1.15 to $115.78 a barrel on the ICE Futures exchange.
"It's obviously been a factor playing on the minds of oil markets at the moment," said David Moore, commodity strategist at Commonwealth Bank of Australia in Sydney. "There's a potential impact on production in the Gulf of Mexico area."
Gustav roared ashore on Haiti Tuesday near the city of Jacmel as a hurricane with top sustained winds near 90 mph (145 kph). The National Hurricane Center said the storm's winds dropped from hurricane-strength to 60 mph (95 kph) Wednesday. The storm was centered about 80 miles (125 kilometers) west of Port-au-Prince. But the storm's expected to get stronger later this week and continue moving toward the west-northwest.
The center says the storm could become a Category 2 hurricane Thursday, with winds of 96 mph or higher, on its expected path between Cuba and Jamaica.
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