About 95% of Gulf Coast oil and gas production is offline when Hurricane Ida hits Louisiana

Category 3 hurricanes were blowing at 150 miles per hour, with natural gas futures rising, rising three years, and oil prices plummeting into e-commerce. He knocked on the door in Louisiana and New Orleans.

The hurricane, which is said to have been the hardest hit in 165 years, wiped out 95 percent of US oil and gas production off the coast of the Gulf Coast.

The future of natural gas has risen sharply since 2018 under the most active October contract NGV21.
+ 0.98%
Collecting 1.5% on Globex, around $ 4.45 per million UK heating units. The September natural gas contract, which ended at the end of Friday’s session, reached $ 4.37, according to Down Jones Market data.

Gulf offshore oil production could also be affected by the storm, with the Bureau of Security and Environmental Protection reporting that 95.65% of the Gulf’s crude oil production, or 1.741 million barrels per day, was shut down on Sunday. And the region’s natural gas production is 93.75%.

However, the future for West Texas Medium crude oil CL.1;

The US index was relatively $ 68.73 a barrel compared to settlements for the most active October contract CLV21.
Barrel $ 68.74 on Friday. Friday’s WTI action saw a 10% increase in the value of raw WTI action as hunter-gatherers were eager to jump on the bandwagon of uncertain futures, amid uncertainty over the potential spread of the delta spread. -19.

The Federal Emergency Management Agency (FEMA) tweeted:

According to the National Hurricane Center, Hurricane Category 4 is the strongest hurricane in Louisiana. Still, it remains a hurricane.

“Many plants are strong in hurricanes, but disruptions in operations are still more likely due to floods, power outages and displacement of workers,” said analysts at Plastic Analysts.

Even before she left the country on Sunday, power companies were mobilizing workers in the Gulf of Mexico. About 16% of the 560 manpower forums in the Gulf of Mexico have been evacuated, according to BSAE Friday.

Energy production from the Gulf of Mexico is significant because offshore wells account for 17% of US crude oil and 5% of dry natural gas production, and more than 45% of the total US refining capacity on the Gulf. Information from the US Energy Information Administration.


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