Hurricane Gustav Targets Gulf of Mexico

Hurricane Gustav will make its way into Haiti on Tuesday. The storm's current track threatens Florida and the Gulf of Mexico.

Hurricane Gustav is the 7th storm of the 2008 Atlantic hurricane season. As of 5 AM, the storm had sustained winds of 85 mph.

Gustav will become a major storm later this week, according to forecasters. Its current path threatens the southeast portion of Florida and the Gulf of Mexico.

On Tuesday, the hurricane is a Category 2 storm as it strikes the southwestern peninsula of Haiti. The storm will then move in a westward direction south of Cuba. Warmer Atlantic waters are expected to strengthen Gustav.

Meanwhile, energy markets are watching Gustav and the busy 2008 season since Katrina. Seasons 2004 and 2005 were devesting for Florida and New Orleans. Katrina disrupted oil production sending prices to new record levels.

Hurricanes that are Category 3 or higher are called major hurricanes. Katrina hit New Orleans as a Category 5 storming, killing at least 1,500 people in its path.