from the look of this storm in texas around noon saturday, i see on the news broadcast that the flooding is widespread but the extend of damage is unknown.
thankfully, most have left homes so fatalities are low, that's good.
in terms of damage to oil related, that is unknown but most on the networks say it's not major.
still, price spikes at the gas stations around the nation have started and some as much as $4 higher a gallon to over $7.
that, in my quick analysis may have a reverse effect on oil futures come monday as the spikes may simply drive people to not fill up. the economy will suffer in the short run but new construction and rebuilt should help the local economies.
God bless those in tx.
paul
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