Hanna upgraded to hurricane – approaching the coast of Texas

Hanna was upgraded from a tropical storm to a hurricane on Saturday by the US National Hurricane Center.

The most recent update has it pushing west from the Gulf towards the Texas coast

• expected to make landfall by Saturday late afternoon or early evening (Texas time)
• NHC warn of potentially damaging winds, severe flooding

For the folks in the path, here’s hoping you stay safe. 

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For markets, could be an influence on the oil price at the opening of the week depending on how this plays out over the balance of the weekend. If damage is done to energy infrastructure it should act as supportive of price (ps. do not disregard all the other factors at play in energy markets, this is one influence only). 

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