Forecasters Predict Active Hurricane Season

Federal officials are forecasting an active Atlantic hurricane season this year, with 14 to 23 tropical storms, including eight to 14 hurricanes, the Associated Press reported.

The National Oceanic and Atmospheric Administration said that between three and seven hurricanes will be Category 3 or higher with sustained winds exceeding 111 mph. Category 5 is the strongest of five levels.

The forecast is based on the weakening of El Nino, a Pacific Ocean phenomenon that creates strong wind shear that weakens Atlantic storms, AP reported.

Hurricanes can affect oil prices, as they did in 2005 when Hurricanes Katrina and Rita hit the Gulf coast and caused record oil, gasoline and diesel price spikes.

The Atlantic hurricane season begins Tuesday, June 1, and runs through Nov. 30.