Bad hurricane season could cause natural gas spike, analysts say

As the Atlantic hurricane season enters its second month, many energy industry observers are taking bets on how a major storm in the Gulf of Mexico could affect already volatile commodity prices.

In 2005, three big hurricanes walloped the Texas-Louisiana coastline – home to key oil refineries and major offshore natural gas operations – and sent oil, natural gas and gasoline prices to then-record levels.

This year the U.S. National and Oceanic and Atmospheric Administration is predicting an above-average hurricane season, with up to 16 named storms and nine hurricanes.

CanadianPress