Hurricane Isaias Disrupts US Oil Output, Triggers SPR Release

Hurricane Isaias made landfall, killing four and leaving about 670,000 residents without power across several US states. The storm significantly impacted energy production, shutting down approximately 69% of oil output and 57% of natural gas production in the US Gulf of Mexico. To address potential supply disruptions, the US Energy Department authorized an emergency exchange of up to 4 million barrels of crude oil from the Strategic Petroleum Reserve.