Hurricane affects Gulf of Mexico oil and gas production, international oil prices rise more than 2% on September 27

As Hurricane Ian began to have an impact on oil and gas production in the US Gulf of Mexico and the market expected OPEC+ to announce production reduction measures in early October, international crude oil futures prices rose in the overnight market, and the 27th fluctuated strongly during the session, and international oil prices rose
significantly at the close.

Light crude futures for November delivery rose $1.
79, or 2.
33%,
to settle at $78.
50 a barrel on the New York Mercantile Exchange by the close of the day.
London Brent crude futures for November delivery rose $2.
21, or 2.
63%, to settle at $86.
27 a barrel
.

According to data released by the U.
S.
Bureau of Safety and Environmental Enforcement (BSEE), as of noon of the same day, 11% of the crude oil production capacity in the US Gulf of Mexico was closed due to Hurricane Ian, and personnel from 12 offshore production platforms were evacuated, accounting for 2.
3%
of the total number of production platforms in the US Gulf of Mexico.

PVM Oil Associates analyst Tamas ? Tamas Varga said that oil price movements are currently heavily influenced by financial markets
.
At the same time, the rebound in oil prices brought about by Hurricane Ian on the day is considered a temporary phenomenon
.

UBS Oil Analyst Giovanni? Giovanni Staunovo said that only OPEC+ production cuts can break the short-term downward momentum of the market
.

Phil Smith, Senior Market Analyst at Price Futures Group, USA.
Flynn said on the 27th that due to the strategic crude oil reserves released by the United States last week of 4.
6 million barrels, lower than market expectations, U.
S.
oil inventories may have an unexpected decline
last week.

In addition, the two major submarine pipelines "Nord Stream-1" and "Nord Stream-2" that Russia transports natural gas to Europe detected gas leaks on the 26th, and the operator said that it was "investigating the cause" and did not rule out the possibility of
deliberate destruction.

Survey data released by S&P Global later on the 26th showed that U.
S.
commercial crude oil inventories increased by 400,000 barrels month-on-month last week, while gasoline and distillate inventories are expected to fall by 100,000 barrels
month-on-month.
U.
S.
refinery runs are expected to fall 0.
5 basis points to 93.
1 percent
last week.