The Atlantic basin will see the most named storms since the 2012season, the year Sandy crippled the U.S. East Coast, with five toeight of those strengthening into hurricanes by Nov. 30, theNational Oceanic and Atmospheric Administration said.

NOAA increased its outlook to 12 to 17 named storms with windsof at least 39 miles (63 kilometers) per hour in thetropical Atlantic after the end of El Nino, which can produce windsthat damage systems, according to an updated forecast releasedThursday. Two to four storms could grow into major hurricanes withwinds of at least 111 miles per hour.

Atlantic storms can threaten the Gulf of Mexico, where about 5%of the U.S. marketed natural gas production is produced along with17% of crude oil, according to the Energy InformationAdministration. The Gulf region also is home to more than 45% ofpetroleum refining capacity and 51% of gas processing.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.