Hurricane Isaias Halts 1.28M Bpd US Gulf Oil Output

Hurricane Isaias has forced the shutdown of 1.28 million barrels per day of US Gulf oil production, a sharp increase from 185,120 bpd two days prior. The Marine Minerals Administration reported that 62.89% of current Gulf oil production and 57.35% of natural gas production is offline. Operators evacuated personnel from 121 production platforms, or 32.61% of the Gulf's manned platforms. This significant supply disruption could push crude oil prices higher, potentially impacting global inflation and Pakistan's import costs, which could indirectly affect USD/PKR and gold prices.

بحوالہ / Source: oilprice.com