Gulf Oil Producers Shut In 1.5 Million Bpd as Hurricane Isaias Nears Landfall

U.S. Gulf of Mexico energy producers have shut in roughly 1.5 million barrels per day of crude oil—nearly 72% of regional output—and 1.3 billion cubic feet per day of natural gas ahead of Hurricane Isaias's landfall. Evacuations have reached 129 offshore platforms, or about 35% of staffed facilities, with operators including BP, Chevron, and Shell pulling crews. Disruptions expanded from 1.28 million barrels per day shut in on October 8. Oil prices rallied on tightening supply, with Brent touching $104.28 per barrel and WTI reaching $91.49 per barrel.