Sunday, September 14, 2008

Rain departing, oil falls

Good news on two fronts.

The steady rain is quickly exiting the WREX viewing area. We'll have some drizzle through the overnight hours, but significant rainfall has pretty much completely ended. Flooding is still a concern, especially in and near DeKalb County. Moderate river flooding is occurring now at the river gage site in the city of DeKalb. I will say this yet again - if you encounter floodwaters, do not enter them. NEVER cross a flooded roadway.

The other good news is that oil future trading started early today with the concerns over Ike's damage to refineries. Fortunately, the damage wasn't as extensive as expected, and oil prices fell down to below $99! Let's hope the gas prices respond quickly after that rapid 30-cent spike.

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