Nat Gas News U.S. energy exports severely disrupted by Hurricane Laura Oil and gas exports from the United States have been severely disrupted by Hurricane Laura, with nearly a million barrels per day (bpd) of crude exports likely reduced this week by closures of U.S. Gulf Coast terminals and disruptions at ports. The hurricane also […]
Oil prices are posting new gains this morning after Friday’s selloff, buoyed by falling production in various areas throughout the world. The UAE, OPEC’s third-largest producer, ordered its national oil company to cut future oil production, and markets are now expecting a 5% supply drop in September and a 30% cut in October. In the […]
This week followed a classic “buy the rumor, sell the fact” pattern, with fuel markets spiking ahead of Hurricane Laura before shedding gains later in the week. From Monday’s opening level to Friday’s, WTI Crude finished the week slightly higher. The effects of the twin storms hitting the Gulf Coast were priced in early in […]
Oil prices are trading sideways this morning on light headlines. With Hurricane Laura passed, oil companies are reopening offshore rigs, refineries, and fuel terminals, and so far all indications, fortunately, point to minimal damage. Peak hurricane season is just two weeks away (Sept 10), so markets will continue vigilantly tracking Atlantic conditions. Weather forecasters hinted […]
Nat Gas News Houston Ship Channel spot gas rebounds as Hurricane Laura leaves Houston unscathed Spot natural gas prices in the Houston metropolitan area saw a double-digit rebound the morning of Aug. 27, as Hurricane Laura bypassed the area without leaving major power outages or infrastructure damage. Houston Ship Channel gained 17.50 cents to settle […]
Although Hurricane Laura made landfall as a powerful Category 4, the storm’s path and fast trek northward left the region’s fueling infrastructure mostly intact. Despite widespread power outages across Louisiana, Arkansas, and Texas, fuel terminals are beginning to reopen, and carrier capacity remains plentiful. Mansfield is moving all fuel markets to Code Green. While some […]
On Wednesday, WTI crude closed flat as the US braced for the impact from the storm. Early reports would seem to indicate that Houston refineries were spared the brunt of the storm while Lake Charles refineries in Louisiana felt the storms’ full force. Early Thursday morning, Hurricane Laura made landfall in Cameron, Louisiana, as a […]
Hurricane Laura made landfall at 1am this morning in Cameron, Louisiana as a Category 4 storm. The storm has weakened to a Category 2 as it moves northward at a rapid clip up the Louisiana-Texas border; it will weaken to a tropical storm over Arkansas. Laura’s most devastating effect were its wind speeds and storm […]
Hurricane Laura continues strengthening as it hurdles towards the border between Texas and Louisiana. Currently a Category 3 storm, Laura is expected to strengthen into a Category 4 Catastrophic Storm with maximum sustained winds potentially surpassing 130 mph. Landfall is set to occur overnight between Port Arthur, TX and Lake Charles, LA – both areas […]
On Tuesday, WTI crude closed higher ahead of Hurricane Laura making landfall in Texas and Louisiana tomorrow morning. Crude is relatively unchanged this morning as the hurricane’s effects seem to have been largely priced into the market. The Phase One trade deal between the US and China is moving forward as planned. On a phone […]
