WS #15638
Shell, Chevron, and BP have evacuated crews and cut production as Hurricane Isaias approaches the Gulf Coast, creating a physical supply risk. However, oil prices are falling as Trump vows not to attack Iran before the midterms, dampening the geopolitical risk premium. This divergence suggests a short-term supply squeeze in US gasoline but a bearish bias for crude oil due to reduced war fears.
Gulf Hurricane & Energy Supply
Shell, Chevron, and BP have evacuated crews and cut production as Hurricane Isaias approaches the Gulf Coast, creating a physical supply risk. However, oil prices are falling as Trump vows not to attack Iran before the midterms, dampening the geopolitical risk premium. This divergence suggests a short-term supply squeeze in US gasoline but a bearish bias for crude oil due to reduced war fears.