© 2024 KPCW

Spencer F. Eccles Broadcast Center
PO Box 1372 | 460 Swede Alley
Park City | UT | 84060
Office: (435) 649-9004 | Studio: (435) 655-8255

Music & Artist Inquiries: music@kpcw.org
News Tips & Press Releases: news@kpcw.org
Volunteer Opportunities
General Inquiries: info@kpcw.org
Listen Like a Local Park City & Heber City Summit & Wasatch counties, Utah
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

U.S. Market Braces, Awaits Toll From Katrina

In addition to flooding and power outages, Hurricane Katrina's landfall on the Gulf Coast may create delays in the area's oil and gas production, which supplies a more than 15 percent of the nation's needs.

Monday morning, oil prices surged above $70 a barrel as the storm approached, and natural gas prices rose 20 percent. Now energy industry officials await reports on whether the storm caused lasting damage to the many refineries and oil platforms that dot the Gulf.

In addition, Louisiana and Mississippi are home to large agricultural and chemical interests, and a major part of the trade flowing in and out of the Midwest goes through the port of southern Louisiana.

Copyright 2022 NPR. To see more, visit https://www.npr.org.

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.