Oil futures are back above $109, up more than $3 on the day on fears that Hurricane Ike could hit the oil and gas producing region of the Gulf of Mexico. The backup in oil prices is overshadowed by the GSE news but it could become a factor as the shine wears off, as it inevitably does. We fear another Monday like last week when markets rallied early as the Gustav did less damage than feared. Shares ended up closing lower and the market had a terrible week. Today’s news is bigger and more important but if prices don’t hold, oil could become a focus.