Disaster

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Gartman has done it again.

Yesterday, on CNBC the world-renowned commodities guru predicted that Hurricane Harvey would be a mostly a non-event, saying that he "doubts Harvey gets much past a Category 1 hurricane",  and that "this is going to be a short-term event."

The storm "could be very serious. My guess is that it shan't be," he said...

http://player.cnbc.com/p/gZWlPC/cnbc_global

... to which our response was simply "bye Texas":

Following WTI crude's drop yesterday - apparently on reduced refinery demand due to Hurricane Harvey - RBOB gasoline is now tumbling, erasing yesterday's Harvey-related gains, as traders realize the short-term supply disruptions are offset by significant inventories.

Hurricane Harvey, which until this morning a Tropical Storm, is now set to be the first hurricane to strike the Texas coast since 2008. According to the NHS, which issued a hurricane warning from Port Mansfield to Matagorda, TX including Corpus Christi, Harvey is "rapidly intensifying", and is forecast to be a "major hurricane."