Sometimes it is what doesn't happen that can make news. While todays action in the oil market is due to rising fuel inventories [zerohedge] I'd like to point out what those on the Gulf of Mexico already know: so far there has not been a major hurricane strike the continental US.
As I have mentioned previously (Aug 13, 2009) a significant percentage of the pumping and refining capacity for America is in the Gulf of Mexico. Not having a hurricane stomping around will keep the oil and natural gas flowing.
Let's see if we can make it through the entire hurricane season without any damage. Look for solid bids on reinsurance stocks and debt if this happens.