Commodities Buzz: Above-average hurricane activity disrupted U.S. energy infrastructure this year says EIA

The US EIA stated in a latest update that 2024 Atlantic hurricane season, which ran from June 1 through November 30, exhibited above-average activity with more named storms and hurricanes than usual, including several that disrupted U.S. energy infrastructure, primarily on the Gulf Coast and in the Southeast. Energy impacts from hurricanes this season were most notable in electricity markets, although Hurricanes Francine, Helene, and Rafael forced some oil and natural gas production from fields in the Gulf of Mexico to be shut in.

The National Oceanic Atmospheric Association (NOAA) reported 18 named storms in 2024 (winds of 39 miles per hour [mph] or greater). Eleven of those storms had wind speeds of 74 mph or more, classifying them as hurricanes, and five of those intensified to major hurricanes (winds of 111 mph or greater). Five hurricanes made landfall in the continental United States (Beryl, Debby, Francine, Helene, and Milton), with two storms (Helene and Milton) making landfall as major hurricanes. An average hurricane season has 14 named storms, 7 hurricanes, and 3 major hurricanes, according to NOAA.

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