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Energy braces for Atlantic hurricane season

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Marathon Oil/Reuters/File

(Read caption) An oil rig belonging to the Marathon Oil Company is shown in the Ewing Bank area of the Gulf of Mexico.

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Energy companies and commodity traders are keeping a close eye on weather reports around the Gulf of Mexico as the Atlantic hurricane season moves into its most active phase and the risk of powerful storms, that could threaten activity in the Gulf, increases.

The Atlantic hurricane season begins at the beginning of June, with the most active stages between 20th August and October. Traders follow the storms due to their potential to destroy crops, and disrupt oil and gas activities.

Dan Kottlowski, a senior meteorologist at AccuWeather Inc., explained to Bloomberg that the wind shear, which normally breaks young storms apart, has been dropping away, and the potential of strong tropical waves, necessary to create a hurricane, has been growing. (Related article: Junior Time in the Gulf of Mexico Shelf)

 
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