Crude futures remained relatively calm over the past two weeks. A one day dramatic rise of $5.00 per barrel on the 21st, and due primarily to a 90 basis point drop in the U.S. dollar on that day, was quickly reversed the next day as the dollar regained strength. Of late, of course, the market has been influenced by the threat of Hurricane Gustav which has the potential to wreak damage to offshore oil platforms in the Gulf of Mexico and has caused many to think back to the devastation caused by Hurricane Katrina in 2005. While the market is wary of the storm's potential impact, at this point to the extent of $2 to $3 per barrel, industry experts point to the fact that Gustav does not, at least currently, possess the power exhibited by Katrina. In addition, some meteorologists including Joe Bartosik of WeatherBug are of the opinion the wind shear associated with the storm could shift Gustav's path closer toward Mexico's Yucatan Peninsula and away from valuable oil installations. Of as much importance to the market are the underlying fundamentals which currently indicate a build in gasoline and distillate inventories in light of continued demand destruction in the North American market. Exports of diesel to Europe have significantly dropped off and refinery production has picked up this past week in anticipation of weather related interruptions. In addition, industry conversion away from the production of more expensive summer grade gasoline to more cheaply made winter grades has generated a sell off of remaining summer fuels which should result in a drop in NYMEX trading values for gasoline.