About hurricanes in the Gulf of Mexico (worse back to back)Here are facts about what happened when the 2 worse hurricanes (Katrina & Rita) hit the Gulf of Mexico, now remember that we're talking about the 2 worse to hit back to back and this is what happened. In 2005 out of 4000 platforms at the time 115, were destroyed and another 52 were damaged so around 97% survived the Gulf, and as far as US Oil production the Gulf only accounts for around 15% plus platforms are built to withstand gale force winds and extreme wave conditions plus when they know that a hurricane is coming they lock the platforms down for the day or 2..
So what happened to Oil prices during the 2005 hurricanes? the Oil price stayed around $54 and these were the worse 2 hurricanes hitting one after the other.
It was no different than Kuwait when 650 Oil producing wells were set on fire too and burned for around 10 months Oil on average only moved around $5 and that's losing 5Mil bbl/d
I can talk about how Oil is heading lower because of global economies slowing and Central Banks raising rates to stop inflation and I can back that with daily facts and data being released so trying to work everyone up for hurricane season then post facts that would back hurricanes for being responsible for $10+ Oil price increases. Recession trumps all. JMHO (always DD)
https://www.theatlantic.com/science/archive/2017/08/harvey-offshore-platform-oil-gas/537960/