Hurricance

Hurricance Ivan’s continuing impact on Gulf of Mexico infrastructure and production was at least partly to blame for the huge run up in natural gas prices last week. Crude oil futures shot to a record high of $50.47/bbl on Tuesday in response to unrest in Nigeria, the largest African oil-producing country, and that along with expectations of a lengthy supply outage in the Gulf from hurricane damage sent November gas futures soaring to a high of $7.23 on Wednesday.