Hurricane Ike fallout: Travel disruption continues, but oil lower on relief it wasn't worse

Hurricane Ike continues to disrupt air travel, moving into the Midwest with strong winds and rain. Continental resumed service from its Houston Intercontinental Airport today but Southwest won't reopen at Houston Hobby until Tuesday. American's operations in both Dallas/Fort Worth and Chicago were affected. All the airlines are showing flexibility if you need to change plans. Read more detail here.

Another story reports on oil prices falling because of less damage to offshore production from Ike than expected. The decline follows sharp increases in retail gasoline prices the last week or two as speculators anticipated more disurption than there was. AAA reports that in the Philadelphia region, pump prices went up 11 cents a gallon in PA and 15 cents a gallon in NJ over the weekend. Now, we should expect gas prices to come down again, shouldn't we?

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