Oil Companies In Texas Restore Operations After Hurricane Beryl

(MENAFN- Yolo Wire) %Oil and %NaturalGas companies in Texas are restarting operations after Hurricane Beryl blew across the state, damaging property and leaving more than two million people without power.

Several leading energy firms in Texas had shutdown operations ahead of Beryl’s arrival and Texas' largest ports and navigation channels also closed.

However, the hurricane’s impact on oil and gas production in the state appears to have been very minor, allowing most companies to restart operations quickly.

Ports and waterways across Texas are reopening as producers a ramp-up output after preventively shutting down in recent days.

Texas is the largest U.S. oil and gas producing state, accounting for 40% of oil and 20% of natural gas output for all of America.

Texas is also the country’s leading shipping and refining hub. Any weather-related interruptions tend to impact crude oil and fuel prices nationwide.

Fortunately, Hurricane Beryl lost strength as it made landfall in Texas and has since been downgraded to a tropical storm.

West Texas Intermediate (WTI) crude oil, the U.S. standard, is currently trading at $81.85 U.S. a barrel, having declined about 1% in the last 24 hours.


Yolo Wire

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