Economy
Hurricane Isaias Shuts Nearly 73 Percent of US Gulf Oil Production
Livemint1h
THE BRIEF
1
Hurricane Isaias forced energy companies to shut in about 1.46 million barrels a day of crude output, representing 72 percent of the US Gulf region's total production.
2
Producers evacuated 129 offshore platforms and moved two dynamically positioned rigs out of the path of the Category 3 storm.
3
The production disruptions coincide with Middle Eastern shipping delays from the Iran conflict, causing soaring freight costs for American crude exports.