- Crude oil prices jumped to over $70 a barrel for the first time in overnight trading in response to Hurricane Katrina, which blew through the Gulf of Mexico over the weekend and made landfall into Louisiana and Mississippi early Monday. However many of this morning's price moves did not survive the day.
- An important natural-gas pipeline hub in Louisiana reopened Monday after closing due to Hurricane Katrina. The Henry Hub was closed Sunday. Returning personnel found no significant damage, owner and operator Sabine Pipe Line LLC said on its site Monday.
- The Bush administration said it would consider loaning crude oil from the government's emergency stockpile, if requested by U.S. refiners facing delayed shipments due to the Hurricane.
- With the peak shipping season in full force, intermodal container traffic for the week ended Aug. 20 was the highest week ever on record, the Association of American Railroads said.
- The USDA's good to excellent crop rating for:
Corn was 52%, up from 50% a week ago.
Soybeans were 53%, up from 52% a week ago.
Cotton was 65%, up from 63% a week ago.
- Lumber closed up its $10 daily limit to $280.20 with many expecting bigger lumber demand after Hurricane Katrina.
- GDP in the Philippines was up 1.4% in the second quarter and up 4.8% YoY.
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