Will big wind blow up oil prices?
Cyclone Gonu’s winds blast Oman coast
MUSCAT, Oman – Thousands of people fled low-lying areas as the strongest cyclone to threaten the Arabian Peninsula in 60 years blasted Oman’s eastern coast early Wednesday with strong winds and waves, Civil Defense officials said. Southern Iran and the oil-rich Persian Gulf were next in its path.
Gonu was expected to skirt the region’s biggest oil installations but could disrupt shipping in the Straits of Hormuz, causing a spike in prices, oil analysts said.
Oil prices rose on Monday but retreated Tuesday, although the storm weighed heavily on the market.</em>
Could be a rut roe.
