Although Hurricane Ian is now full disbanded into a scattered weather pattern, recovery efforts are still underway. In Florida, nearly 600,000 electric customers continue suffering power outages, primarily around Ft. Myers. Insurance companies estimate the damage from the storm to be roughly $40-$60 billion, with far more costs stemming from downtime and recovery expenses. Fuel […]
Oil markets are rebounding this morning after a sell-off last week, with crude oil back above $80/bbl and fuel prices gaining 10 cents per gallon. OPEC+ is reportedly weighing potential oil production cuts as high as 1 million barrels per day (MMbpd), the largest cut since the group collectively slashed supply by 9.7 MMbpd in […]
Hurricane Ian has made landfall in Georgetown, SC as a Category 1 hurricane, bringing strong winds near 85 mph. Over the next 24 hours, the storm will progress through the Carolinas and Virginia as a Tropical Depression, leaving damage and power outages in its wake. Storm surge in South Carolina could reach up to 7 […]
After the market hit 9-month lows last week, this week brought a return to elevated prices. Crude oil rose back above the $80/bbl level, and diesel prices lept thirty cents above last week’s low. As has been the case for the past few months, the shifting focus from economic woes to physical fuel tightness has […]
Fuel markets shot higher yesterday following the EIA’s report, which showed declining inventories and declining refining activity. Hurricane Ian made landfall in Florida yesterday, bringing devastation for fuel markets in the center of the state. In France, labor strikes have shut off a large chunk of refining capacity, with winter just a few months away. […]
Ian, which has now been downgraded to a Tropical Storm, is heading back out into the Atlantic, where its path will shift northwestward towards the South Carolina coast. Originally projected to spend two days over central Florida, the storm quickly sped through to move towards its second landfall, currently forecast to occur on the southern […]
In light of the impending landfall of Hurricane Ian, we’re pausing this week’s What Is It post to focus on the impact of the storm. We’ll resume the weekly series next Wednesday, so stay tuned. Hurricane Ian continues its path towards central Florida. Once Ian finishes its trek through Florida, Georgia, and South Carolina are […]
Hurricane Ian strengthened overnight to a Category 4 storm with maximum winds at 155 mph – just shy of being a Category 5. The storm’s trajectory shifted a bit southward, with landfall expected in Fort Myers this afternoon. From there, the storm will slowly push through central Florida, not moving into the Atlantic until Friday […]
As Hurricane Ian continues barreling towards Florida, winds and rain have already begun impacting Florida markets. All Tampa fuel terminals are now planning to be closed by the end of the day, and heavy winds are expected by tomorrow which will make deliveries impossible. Orlando terminals are planning shutdowns tomorrow, spreading the outage to a […]
Natural Gas News – September 27, 2022 LNG Will Never Do Without You – Louisiana Gas Pipeline The battle to restore energy reliability in Europe has breathed new life into North American LNG export projects — and into the Haynesville Shale in Louisiana, the closest supply basin to many of the planned and proposed liquefaction […]
