What does Paloma mean?
Thursday, November 6th, 2008Paloma doesn’t mean much to energy traders as it will avoid the gulf production region. It could mean disaster (again) for Cuba.
Early today tropical storm Paloma formed off the eastern coast of Nicaragua. Although the storm came as a bit of a surprise, it doesn’t look to influence any oil production areas. It will start heading north over the next 12-24 hours but shear in the Gulf of Mexico will prohibit it from entering that area. Over the next 5-7 days it will pick up speed and intensity striking Cuba as a category 2 hurricane (cat 3 is not out of the question). Cuba seems to have been a magnet for storms this year with most tropical systems at least grazing some part of the island.
Any impact on Europe is still about 10 days away and is unknown at this time. Please check back for the influence of Paloma on the European Union.
