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HomeHurricane Ida

Hurricane Ida

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Crude Oil News

Insurers could face $1 billion hit from Hurricane Ida damage to offshore rigs

September 13, 2021 Mariel Alumit

Insurers are bracing for a hit of about $1 billion from physical damage to offshore rigs and structures from Hurricane Ida, according to preliminary estimates from U.S. property data and analytics company CoreLogic. The estimate […]

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Commodities

Robust Gasoline Consumption Fuels Record-High U.S. Oil Demand

September 11, 2021 Stu Turley

U.S. oil demand continues its upward trajectory—reaching a record high last week–while product inventories have fallen to the lowest levels in three years. If the demand trend holds, oil prices have room to rise even […]

Commodities

Oil set for second weekly gain as stockpiles drop, dollar eases

September 3, 2021 Stu Turley

Oil in New York posted its second weekly gain as the impact of Hurricane Ida continues to snarl U.S. oil production, though prices edged lower Friday following a weak U.S. jobs report. West Texas Intermediate […]

Commodities

Port Fourchon Sees Weeks for Ida Recovery

September 1, 2021 Stu Turley

Port Fourchon, America’s biggest base supporting the U.S. Gulf of Mexico offshore oil industry, appears to have largely withstood a powerful punch left by Hurricane Ida after the Category 4 storm tore through the Louisiana […]

Crude Oil News

Oil Edges Higher as U.S. Gulf Producers Assess Damage After Ida

August 30, 2021 Stu Turley

Storm spurs refiners, pipeline networks to suspend operations OPEC+ expected to endorse oil supply increase at midweek meet Oil edged higher in New York as offshore explorers  assess damage from Hurricane Ida and as investors […]

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