Oil Higher in Emergency Sunday Session

In an emergency trading session before Hurrican Gustav makes landfall the crude oil futures market has traded from $116.65 per barrel to $118.60 per barrel and at 2:50 PM EDT October Crude Oil futures stand at $117.90 per barrel up $2.44 per barrel.

UPDATE: Monday afternoon, 5:09 EDT - October Crude Oil Futures are down $.31 per barral at $111.15. Interesting, a hurricane blows through the Gulf of Mexico oil fields, it blows through the oil industry town of Morgan City and crude is down over $4.00 per barrel.

New York Merc Sunday Trading Session!

In this Bloomberg article about the likely effect of Hurricane Gustav on Gulf of Mexico oil production they point to this notice from the CME Group (the CME Group now owns the NY Merc and I am a CME membership holder) that there will be a Sunday afternoon online trading session in the New York energy markets. The markets open at 2:30 PM EDT with a 2:00 PM EDT pre-opening.

McCain and Lieberman Visited Chicago Exchanges

Photo Copyright: Flying Debris

Republican Presidential candidate Sen. John McCain (D-AZ) visited the floors of the Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange (CME) this morning. Illinois Governor Rod Blagojevich (D-Rezko) was also at the exchange this morning, however for him I didn't even look up. The above photo was taken outside of the west edge of the Corn Options pit on the CBOT floor and if you look just to the left of Senator McCain you can spy another Senator, Sen. Joe Lieberman (I-CT). Yes that would be the very same Senator Lieberman who was the Democratic Vice-Presidential candidate in 2000 on the Gore/Lieberman ticket. I specifically thanked Senator Lieberman for his support of Senator McCain and commented that it was a gutsy thing for him to do, Lieberman's response was "we need him."

As I wrote in this post Senator Lieberman knows all too well the craziness of the nutroots and the far left progressive crowd that has been in ascendancy in the Democratic Party, that is the reason that he is now an Independent. Lieberman is an Independent who unfortunately and for the time being, caucuses with the Democratic Party. Thank you again Senator Lieberman.

It is worth noting that although the exchange membership generally leans center-right I did hear a few catcalls, all of them in support of Sen. Hilary Clinton (D-NY). I heard nothing in support of Chicago's own hometown hero Senator Barack Obama (D-IL).


Photo taken with an Apple iPhone.