Gustav expected to regain hurricane strength
28 August 2008 15:39 [Source: ICIS news]
HOUSTON (ICIS news)--Tropical Storm Gustav is nearing hurricane strength and its status will likely be upgraded within hours, US meteorologists said on Thursday.
The threat of the storm had raised crude prices $1/bbl but by 14:30 GMT October Brent had eased back to $116.35/bbl and October NYMEX crude was trading at $118.11/bbl, both marginally up from the previous close.
As of 6:30 Houston time (11:30 GMT), Gustav had maximum sustained winds of 70 miles/hour (110km/hour), according to the National Hurricane Center.
To become a hurricane again, Gustav would need sustained winds of at least 74 miles/hour.
Gustav's centre was about 80 miles east of Kingston, Jamaica, meteorologists said. The storm is expected to pass through the Gulf of Mexico before making landfall in Louisiana early next week.
Much of the US energy and petrochemical production is clustered along the Gulf coast. In August and September of 2005, hurricanes Katrina and Rita greatly disrupted refinery and plant production.
Murphy Oil has started evacuating nonessential personnel from its Gulf operations, Reuters reported. BP and Shell have also started evacuations.
Louisiana Governor Bobby Jindal on Wednesday declared a state of emergency, while federal agencies began wide-scale preparations.
Tropical Depression Eight was forming about 355 miles east-northeast of the northern Leeward islands. Depressions can strengthen into tropical storms and, ultimately, into hurricanes
Source: The National Hurricane Center
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