Cameron Hanover – Daily Energy Hedger – July 1, 2010

Alex was upgraded to a hurricane on Wednesday, and it has now made landfall in Mexico near the Texas-Mexico border. As a precautionary measure, an estimated 26% of oil production and 14% of natural gas production in the US Gulf were shut down. After picking up wind-speed over the warm waters of the western Gulf, Alex became the first Atlantic hurricane in 15 years to occur in June.