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Hurricane Isaias has disrupted U.S. crude oil production in the Gulf of Mexico and poses a risk to approximately 2% of the nation's refining capacity, complicating an already tight global fuel market.
The storm is moving toward Mississippi, Alabama, and the Florida panhandle as a Category 3 system with maximum sustained winds of 120 miles per hour, according to the National Hurricane Center.
Landfall is expected Friday night or early Saturday. Oil companies have shut in about 1.3 million barrels per day, representing roughly 63% of total U.S.
production in the Gulf, as of Thursday, according to the Bureau of Safety and Environmental Enforcement.
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