A glace at the Atlantic basin storm map would initially put a fright into energy traders and insurance agents but it's not as bad as it looks. Franklin is set to turn sharply north then back into the Atlantic while Gert and Emily are also highly unlikely to make landfall in the US.
The red X is the concern for this week as there is an 80% likelihood it will spin up into a tropical storm or more, according to the NOAA. Given the location, I'm skeptical there is enough runway for it to grow into anything particularly disruptive but the waters of the caribbean are warm and it's worth monitoring int he next couple days. Beyond that, the coast is clear as we head into the peak of the storm season.
WTI crude is up 65-cents to $81.90 today while natural gas is up 3%.
