Energy

Oil, gasoline prices rise as Ida kicks hurricane season into a higher gear

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St. Bernard Parish residents fill up their cars and gas cans as the Louisiana coast prepares for the arrival of Hurricane Ida on Friday, Aug. 27, 2021 in New Orleans.

Chris Granger | The Times-Picayune | The New Orleans Advocate via AP

Hurricane Ida temporarily shut down a critical swath of U.S. oil production and refining operations, and that should keep crude and retail gasoline prices at already elevated levels.

Now a tropical storm, Ida swept across the Gulf of Mexico production area before slamming into the Louisiana coast Sunday as a Category 4 storm, bringing torrents of rain, high winds and high tides. More than 1 million Louisiana utility customers were without power early…



Source cnbc.com

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