Hurricane Katrina destroyed oil and natural gas refining capacity in the Gulf of Mexico in 2005. This drove up the prices of natural gas, gasoline, and heating oil. This is an example of a

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A supply shock occurs when there's an unexpected event that suddenly changes the supply of a product or commodity, leading to sudden price changes. Hurricane Katrina's destruction of refining capacity reduced the supply of oil and natural gas, causing prices to rise.

Hurricane Katrina Destroyed Oil and Natural Gas Refining Capacity in the Gulf