Tropical Storm Rita

The storm is expected to become a hurricane in the next 24 hours or so and is located just south east of the Florida Keys. It is expected to enter the Gulf of Mexico in the next couple of days and has forced both SHELL and CHEVRON to begin removing employees out of the area. As a result we are seeing a spike in oil and gas today.

• Crude Oil up $3.75 to $66.75 per barrel.

• Wholesale Gasoline has also spiked to nearly $2.00 per gallon.

Budd Foxx