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Yesterday afternoon, Hurricane Gustav hit the southern coast of Haiti. The current death toll for Haiti is 14, and 8 were killed in the Dominican Republic.

Gustav has been downgraded to a tropical storm, though it is believed as it moves away from Haiti and towards Cuba and the Gulf Coast, it will strengthen to hurricane force winds. It is projected that the hurricane will pass in between the islands of Cuba and Jamaica tomorrow. The US Gulf Coast should expect Gustav by Labor Day Weekend.

Though Gustav's strength isn't known currently, by the time it reaches the Gulf of Mexico, it could be pretty severe.

In light of the hurricane, oil prices rose to $115, $3 higher than it has been. Platforms off Texas and Louisiana will be at risk once the hurricane moves towards the Gulf Coast, but oil and gas prices have yet to affected.

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