Hurricane Isaias Halts Over 70% of Oil Production in US Gulf of Mexico

Hurricane Isaias has caused widespread disruptions to the US energy sector, shutting down approximately 71% of oil production in the Gulf of Mexico, CBS News and UA.NEWS reported.

The shutdown of offshore facilities has stoked concerns over rising fuel prices. According to Yahoo and BigGo Finance, crude oil futures have already rebounded in response to the sharp drop in output.

Further details regarding the extent of damage to regional infrastructure and a timeline for resuming full production have not yet been released.