Hurricane Isaac's Impact On Oil Prices Would Likely be Short-term

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Hira Shahnawaz Akhtar
Published on
Updated on

In a relatively slow oil market, a turmoil has emerged with shutdowns in the Gulf of Mexico, as Hurricane Isaac nears the region. The tropical storm Isaac has gone from a Tropical cyclone to a full-scale hurricane, making impact with Florida, and is expected to make landfall along the Gulf Coast by early morning on August 29. The figure below shows the storm path of Hurricane Isaac forecasted by the Energy Information Administration (EIA) on August 27. Hurricane Isaac is expected to have a special impact on the oil prices, as the hurricane heads towards the Gulf coast, which represents 44.3% of…

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.