hurricane gustav

Government data show new applications for unemployment benefits rose unexpectedly last week due to the impact of Hurricane Gustav.

Democratic National Convention, Hurricane Gustav shake syndication ratings for week ending Aug. 31.

A single scrap metal company was responsible for all of about 70 barges and ships that floated loose in a major city canal during Hurricane Gustav, threatening flood walls and a bridge, the U.S.

Coast Guard said.

Hurricane Gustav left shrimp rotting on vessels across southeastern Louisiana, where fishing communities without power also lack ice.

Hurricane Gustav coverage boosts The Weather Channel to 65M unduplicated viewers for three days ended Monday.

Even as thousands of workers returned to their posts in the oil-rich Gulf of Mexico after Hurricane Gustav's mild blow, other storms traveling across the Atlantic Ocean served as a reminder that the heart of hurricane season is here.

NEW YORK (AP) -- Oil prices plunged to the lowest level in five months Tuesday, falling to within sight of $100 a barrel on signs that Hurricane Gustav only grazed U.S. energy infrastructure in the Gulf of Mexico.

Oil prices dipped to near $108 a barrel Wednesday as the dollar continued to strengthen and attention shifted to concerns over slowing global demand for crude after Hurricane Gustav left oil installations in the Gulf of Mexico region largely undamaged.

By midday in Europe, light, sweet crude for October delivery was down $1.46 to $108.25 a barrel in electronic trading on the New York Mercantile Exchange.

Residential and commercial damages from Hurricane Gustav will trigger an estimated $4 billion to $10 billion in insurance claims, a third of which could affect the energy industry.

The big news in the financial markets today is that New Orleans largely escaped the wrath of hurricane Gustav, which hit land about 85 miles west of the city, and lost some of its luster on the way in to shore.

Still, oil companies haven’t tallied any potential damage yet and that could change the financial calculus on oil and energy prices going forward.

For now, oil prices have dropped down to $109 per barrel and the stock market has responded vigorously, rising 175 points in Tuesday morning trading.

On the tech side, it’s the telecom stocks that are making the most noise.