Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Fast-moving Hurricane Zeta kills two as it rips across U.S. South

Published 10/29/2020, 09:33 AM
Updated 10/29/2020, 09:35 AM
© Reuters. Parts of the roof of a building are blown off amidst strong wind and rain during Hurricane Zeta in Chalmette

(Reuters) - Hurricane Zeta tore across Southern U.S. states on Thursday, leaving a trail of downed trees and damaged buildings and killing at least two people along its path.

The storm brought 110-mile-per-hour winds (175 km per hour) to the Louisiana coast and knocked out power to 2.4 million people. A new Orleans man died after touching a live power line, while in Biloxi, Mississippi, a man drowned after his car became flooded near the coast.

The fifth tropical cyclone this year to strike Louisiana brought more misery to the Gulf Coast state, where thousands were still out of their homes from prior hurricanes.

New Orleans Mayor LaToya Cantrell urged the city's residents to stay indoors while crews removed storm debris and restored power.

"Now is not the time to go sightseeing," Governor John Bel Edwards advised the state's residents.

Zeta spun up in the Caribbean Sea and went from tropical storm to a damaging Category 2 hurricane in less than four days. It struck Mexico's Yucatan Peninsula and raced across the Gulf of Mexico.

The storm steamed over warm Gulf waters toward the U.S. mainland at up to 20 mph (32 kph) and rode a fast-steering current that propelled it over the Appalachian Mountains and will push it to the Atlantic Ocean by Thursday evening.

Some 2.4 million homes and businesses were without power Thursday morning from Louisiana to North Carolina, according to local utilities.

This year's hurricanes have cost homeowners and insurers billions of dollars for repairs, and cut U.S. oil and gas output from major oil companies by millions of barrels.

Zeta this week shut down two-thirds of offshore U.S. Gulf of Mexico oil production, and led energy producers to turn off undersea pipelines and evacuate workers from 231 offshore platforms and drilling rigs.

© Reuters. Parts of the roof of a building are blown off amidst strong wind and rain during Hurricane Zeta in Chalmette

Oil companies including Hess Corp (N:HES) and W&T Offshore (N:WTI) have cited the repeated Gulf Coast storms since June for missing production targets.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.