Hurricane Ian has spared the US Gulf Coast oil refineries! ​

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Hurricane Ian and US Gulf Coast oil refineries


The simulation, taken from a very reliable model for the next few hours, clearly shows that the US Gulf Coast refineries have been spared by Hurricane Ian. The deviation from the feared path minimizes the risk of a repeat that happened in September last year when the Tropical Storm Nicholas battered the region. The lack of upward movement in the price of crude oil today can be attributed to the diminishing risk by the storm to the crude oil supply. The price, however, is clearly affected by the combination of high interest rates, strong US dollar, slowing economy and evolving political uncertainties in Europe involving Russia. The only factor that keeps the prices of crude oil appears to be the high natural gas price.

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Edited by hemanthaa@mail.com
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It’s about the only thing it’s missing, the last hurricane could fit in the eye of this one.

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