Hurricane Michael hit the Florida Panhandle with winds of 155 mph yesterday and is now moving north, albeit as a weaker , tropical storm. The hurricane shut in more than 40 percent of oil production capacity in the Gulf of Mexico, according to data from the Bureau of Safety and Environmental Enforcement, as well as almost 32 percent of gas production capacity. A total of 89 platforms were evacuated by the time Michael made landfall on Wednesday, as well as seven drilling rigs, with shut-in production totaling almost 718,900 bpd. Some 813 million cubic feet of natural gas production has also been taken offline this week. Despite the high portion of shut-in capacity in the Gulf, the chances of it affecting prices in any meaningful way are slim: most of U.S. production comes from onshore reserves, so the 40 percent of GOM capacity not producing this week represents just […]