Hurricane Isaias Threatens Gulf Oil Production, May Raise Gas Prices
Hurricane Isaias is intensifying as it approaches the northeastern Gulf of Mexico, with landfall expected late Friday or early Saturday. Major oil companies, including Chevron and Shell, have already shut down several production sites in the Gulf, with nearly two-thirds of oil production and 57% of natural gas production in the region halted as of October 8, 2026. The storm comes at a time when U.S. gasoline and diesel inventories are low, and global oil prices are already elevated due to geopolitical tensions. Brent crude oil prices surged nearly 5% in early Thursday trading, while U.S. gas prices remain high at an average of $4.36 per gallon.
