- Tropical Storm Cindy has caused the suspension of service at a major Gulf of Mexico oil terminal and evacuations at rigs and platforms as it moves toward an expected landfall early Thursday somewhere near the Texas-Louisiana border.
- The storm has triggered a halt to vessel offloading at the Louisiana Offshore Oil Port marine terminal, and warnings to the Houston Ship Channel and Cheniere Energy's (NYSEMKT:LNG) Sabine Pass, the site of the only active U.S. liquefied natural gas export terminal.
- Enbridge (NYSE:ENB), Anadarko (NYSE:APC), BHP Billiton (NYSE:BHP) and BP have evacuated non-essential workers from some platforms in the Gulf, and Shell (LON:RDSa) (RDS.A, RDS.B) has suspended some well operations; storms in the Gulf can often roil energy markets because offshore rigs and platforms account for ~17% of U.S. crude oil production and 4% of natural gas output.
- Entergy (NYSE:ETR) says restoration workers are ready to respond to any power outages caused by the storm,
- “While the storm may not be a whopper, it will influence shipping and may impact imports and exports of oil for next week,” says a senior market analyst at Price Futures Group.
- ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
- Now read: Lights Out For Oil
Original article