(Bloomberg) -- Tropical Storm Nate, on track to strike near New Orleans overnight Saturday, may cause close to $1 billion in damage across Central America and the U.S., following the most powerful ...
Hurricane Nate is strengthening and is expected to hit the shores of the US Gulf Coast between Louisiana and the Florida Panhandle this weekend. The National Weather Service has issued a hurricane watch for parts of Louisiana, Mississippi, Alabama and Florida. The offshore rigs and platforms account for around 17% of US oil output and 4% gas production, with around 45% of petroleum refining capacity and 51% gas processing on the coast.