Energy prices broke this week, with a weak dollar and lack of damage from Hurricane Gustav weighing on the market. Bears renewed calls for crude to test $100 before long, even though little has changed about the market's fundamentals. Indeed, for farmers buying fuel, there are few bargains to be had.
Few energy facilities in the Gulf were believed to be damaged by the Gustav, but most of the region's capacity remained shut. One problem: The area's electric grid was heavily damaged by Gustav's winds, keeping power out to an estimated 11% of the nation's refining capacity. Refiners are tapping the Strategic Pil Reserve for supplies to process elsewhere in the U.S.
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