Oil prices are trading lower today primarily because our industry is looking at the weakening Hurricane Florence more so as petroleum demand destruction rather than a supply disruption event.
As we navigate through peak hurricane season, market participants are glued to their weather consoles watching, waiting, anxiously for every update to the two weather disturbances, two hurricanes and a tropical storm churning in the Atlantic and Gulf Coast.
Many disruption scenarios can occur when a hurricane hits the U.S. directly. Whether it hits the Gulf Coast refineries and off shore oil rigs, New York Harbor refineries or the Carolina’s where there isn’t an energy infrastructure presence but a high density of population. I had the pleasure to meet with one of our experts, Mike Dombroski, Commercial Sales Account Manager to discuss in more detail how to better prepare and what could happen to fuel prices if you’re not ready.