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Commodities Corner: Why the U.S. oil market is more ‘vulnerable’ now than it was in 2005 with Hurricane Katrina

Tropical Storm Barry won’t pack the same punch as Hurricane Katrina, but less intense storms in the Gulf of Mexico may have a greater impact on the energy market than they did 14 years ago.

Since Katrina, one of the most devastating hurricanes in U.S. history, in August 2005, the energy market has become much more “vulnerable” with sizable growth in domestic oil refining capacity, a climb in Gulf of Mexico production, and crude exports lifted in late 2015, said Tom Kloza, global head of energy analysis at the Oil Price Information Service.

“Back in 2005, the U.S. was in the third decade of a ban on exports of U.S.

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