U.S. Gulf Coast energy firms face another hurricane hit
Evacuations were underway on Monday from offshore U.S. Gulf of Mexico oil platforms as onshore oil refiners began preparing for rain and heavy winds from a second hurricane in as many weeks.
Floods, outages stall energy firms’ restart efforts after Ida
Widespread flooding, power outages and debris-strewn roads slowed recovery efforts by energy companies on Tuesday after Hurricane Ida ripped into oil production facilities, ports and refineries.
Surging COVID-19 cases dampen U.S. consumer confidence, house prices post record gains
U.S. consumer confidence fell to a six-month low in August as worries about soaring COVID-19 infections and higher inflation dimmed the outlook for the economy.
Asian shares jump in on Fed’s dovish chair!
After U.S. Federal Reserve Chairman Jerome Powell struck a more dovish tone than some investors expected in a long-awaited speech on Friday, Asian shares started the week with gains and the dollar was not far off two-week lows. Meanwhile, oil prices increased after energy companies halted output as Hurricane Ida blasted into the United States’ […]
Oil edges lower as U.S. pushes OPEC to pump more
Oil slipped on Tuesday as OPEC and allies geared up for a meeting on Wednesday amid calls from the United States to pump more crude, although Brent still traded well above $70 per barrel.
Ida’s insurance impact likely to be boosted by pandemic pricing
Insurers are bracing for $15 billion to $30 billion in claims from Hurricane Ida, but the figure could jump higher, in part because of pandemic pricing that has pushed up the cost of lumber and labor to rebuild, insurance experts said on Monday.
After Ida, US energy pipelines off line, damage being assessed
Oil and gas pipeline operators on Monday checked for damage after Hurricane Ida hit major energy hubs as a Category 4 storm on Sunday and caused widespread power outages.
Oil steadies as Hurricane Ida weakens, OPEC+ in focus
Oil steadied on Monday, giving up most of an earlier rally to a four-week high, as Hurricane Ida weakened after forcing shutdowns of U.S. Gulf oil production, and OPEC+ looked set to go ahead with a planned oil output increase.
