Natural gas futures in the United States hit a 14-week high after Hurricane Helene hit the southeastern United States, prompting Gulf of Mexico producers to cut production and cut power to millions of customers in Florida, Georgia, and North and South Carolina.
Natural gas prices recorded $2.902 to increase by 5.41% on Saturday.
The U.S. Environmental Protection Agency said on Friday said that about 24% of crude oil production and 18% of natural gas production in the U.S. Gulf of Mexico were shut down due to Hurricane Helene.
Energy producers have shut 427,000 barrels per day of oil and about 343 million cubic feet of natural gas from the Gulf, the agency said.
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