Hurricane Gustav Pushes Oil Up in Early Trading

Hurricane Gustav could intensify and threaten oil wells in the Gulf of Mexico. While it is still too early to say with certainty which path Gustav will follow, potential supply interruptions are still putting pressure on prices.

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Oil rallies to $117 on hurricane fears

The potential threat of Hurricane Gustav to offshore oil platforms near Louisiana and Texas has appreciated the price of oil by $2.

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Euro Continues to Lose Ground

The euro fell to a six-month low against the dollar following a report indicating that business confidence in Germany declined further than expected for the month of August.

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Thornburg survival in doubt after new margin calls

New Mexico based Thornburg Mortgage Inc specialized in Jumbo mortgages (over 420k) is having trouble with its restructuring to avoid collapse.

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Medvedev recognises Georgia rebel regions

Russia has signed a Decree recognizing South Ossetia and Abkhazia which has infurated the West. Mr Medvedev said on Tuesday that “nothing frightens us, including the prospect of a cold war, but we do not want this, and in this situation all depends on the position of our partners”.

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Filed under: Forex Trading News and Rumors