Bureau of Safety and Environmental Enforcement Says 18% Of Natural Gas Production At U.S. Gulf Of Mexico Shut In Response To Tropical Storm Helene
Portfolio Pulse from Benzinga Newsdesk
The Bureau of Safety and Environmental Enforcement reports that 18% of natural gas production in the U.S. Gulf of Mexico has been shut down due to Tropical Storm Helene.
September 27, 2024 | 6:01 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The shutdown of 18% of natural gas production in the U.S. Gulf of Mexico due to Tropical Storm Helene could lead to a short-term increase in natural gas prices, potentially benefiting the United States Natural Gas Fund (UNG).
The reduction in supply due to the shutdown is likely to cause a short-term increase in natural gas prices, which would positively impact the United States Natural Gas Fund (UNG) as it tracks natural gas prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80