Not sure. It won't be hitting the offshore oil rigs in the gulf so capacity may not be affected much. Many of the refinaries in the Philadelphia region have already been shuttered for unrelated reasons. The east coast, including myself, will be evacuating Sunday morning.
Btw, the only option to trade crude is a futures contract for december the 12th. Im aware that oil reserves are high due to a high amount in us inventories. Think I cud scalp a dollar or two this week due to sandy?
is an option on a future the best instrument to scalp? i dont scalp CL, and i do not trade it off of fundamentals so cannot really help. wld just be careful as its not exactly new news, and the impact the weather can/will have will be known by many more ppl well before you know (thats an assumption that you are not working in the energy industry).
i only really trade it during the pit open times (and short while before).
I'd stay away if I were you.
From a technical stance its definitely not a buy in my book.
As has been pointed out its not exactly new news so the news has probably been factored into the price already.