How & Why do oil prices rise on speculation of hurricanes? Why wouldn't they just rise after a hurricane hit?

I've got a barrel of oil. Do you want to buy it for $60? Sure...


Now, a hurricane is coming. After the hurricane I'll be able to sell it for $70. But, I might not have enough for everyone. Will you pay $70 before the hurricane to make sure you have it after the hurricane? Sure.


Prices go up because everyone wants to buy before prices go up more.How %26amp; Why do oil prices rise on speculation of hurricanes? Why wouldn't they just rise after a hurricane hit?
prices go up on a speculation that any shortfall in production will lead to a price increase.How %26amp; Why do oil prices rise on speculation of hurricanes? Why wouldn't they just rise after a hurricane hit?
I work in the offshore oil industry. At the first threat of a hurricane in the Gulf, all non-essential personell are evacuated and sent home. Without those personal, production drops, when production drops, the prices go up. I hope this helps you.