Hurricane in the mid-Atlantic boosts oil prices

Danny strengthens into this season's first hurricane

WTI crude oil is up 52-cents to $41.32/barrel.

The US National Hurricane Center said Danny has gained hurricane strength as it heads towards Puerto Rico.

We've been tracking the storm for a few days. It's still very early but it appears to be headed towards the Gulf of Mexico. However it may be severely weakened by the forecast path over Hispaniola and Cuba.

The trade in the coming month will be to fade oil strength on hurricane fears. Hurricanes don't affect shale and producers will use those bounces to hedge.