Natural gas prices rise as Hurricane Isaias disrupts Gulf production

Key points

• Hurricane Isaias has led to the shutdown of over 60% of Gulf oil production and approximately 57% of natural gas production, causing a tightening in supply.
• The U.S. Energy Information Administration (EIA) reported a storage build of 85 billion cubic feet (Bcf) for the week ending October 2, slightly above expectations, indicating stable supply levels.
• Despite the storage build, forecasts of warmer weather may reduce heating demand, potentially offsetting the bullish impact of the hurricane-induced supply disruption.