Benchmark U.S. crude oil for August delivery fell 92 cents to $81.41 per barrel Tuesday. Brent crude for September delivery fell $1.09to $84.66 per barrel.
Wholesale gasoline for August delivery fell 1 cent to $2.53 a gallon. August heating oil fell 6 cents to $2.52 a gallon. August natural gas fell 3 cents to $2.34 per 1,000 cubic feet.
Oil starts flowing from US Gulf's Winterfell development
The Winterfell field in the Green Canyon area of the US Gulf of Mexico...
The Winterfell field in the Green Canyon area of the US Gulf of Mexico has achieved first oil production and is expected to deliver 20,000 barrels of oil equivalent per day by the end of the third quarter, according to Beacon Offshore Energy, Kosmos Energy and their partners. Two of the five wells planned for the first phase of the development have commenced production, with the third well anticipated to go online by September.
Explosion at Grady County pulling unit injures 3 workers
A pulling unit or workover rig at an oil well site in Grady County...
A pulling unit or workover rig at an oil well site in Grady County exploded and caught fire Monday afternoon and sent three workers to the hospital. The extent of the injuries of the two workers reported is not known, nor is the identity of the workover company.
The workover rig typically pulls pipe to repair or maintain a producing well.
The Texas ports of Corpus Christi, Houston, Galveston, Freeport and Texas...
The Texas ports of Corpus Christi, Houston, Galveston, Freeport and Texas City shut down operations and vessel traffic on Sunday ahead of Hurricane Beryl's landfall. At the same time, energy companies such as Kinder Morgan, Freeport LNG, Cheniere Energy and Chevron implemented precautionary measures, including facility closures and production adjustments. The port closures could pause crude and LNG exports, oil shipments to refineries and motor fuel deliveries. However, ING analysts stressed that the primary concern is the storm's potential impact on refinery infrastructure.
⛈️ Beryl knocked out power as it raged through Texas
Hurricane Beryl slammed into Texas as a Category 1 storm yesterday,...
Hurricane Beryl slammed into Texas as a Category 1 storm yesterday, killing at least two people there, leaving more than 2 million homes and businesses without power (most of them in the Houston area), and causing the cancellation of over 1,400 flights. It also disrupted oil production, causing crude prices to fall. The storm, which grew into a Category 5 hurricane unprecedentedly early in the Atlantic season (it later weakened), may be a sign of what’s to come as warming ocean water churns up faster storms.
