A severe winter weather event, termed the US Deep Freeze, has significantly disrupted energy operations in the United States, particularly affecting Texas and Louisiana. LNG exporters, including the Cameron LNG export plant, have canceled or delayed shipments due to the freeze, which has also caused a substantial reduction in natural gas flow to LNG export plants, reaching a one-year low. This is partly because energy firms have redirected gas to the domestic market amidst the freeze. About 15% of the US Gulf Coast's oil-refining capacity has been shut down, a key area for crude processing and exports. Despite these disruptions, U.S. crude oil prices have risen, with Gulf Coast prices firming due to record output and busy pipelines. The energy market is contending with fluctuating oil prices influenced by Middle East tensions, demand concerns, and China's economic outlook. The Biden administration is under pressure from environmentalists to reject a significant LNG project in Louisiana and faces internal division over whether to increase environmental scrutiny of natural gas export licenses, which could hinder the growth of new export terminals. Analysts note that the global impact of the disruptions should be limited due to high inventories of gas.
#NorthDakota oil output could take a month to recover from freeze - state regulator #oott https://t.co/K1bYiHBp2n
Biden’s top advisers are divided over how much to ramp up environmental scrutiny of licenses to ship natural gas abroad after warnings it could slow development of new export terminals https://t.co/IcBXhXvxlx
Biden’s top advisers are divided over how much to ramp up environmental scrutiny of licenses to ship natural gas abroad after warnings it could slow development of new export terminals https://t.co/58dngSrEl8
🛢️ WINTER FREEZE KEEPS 15% OF GULF COAST CRUDE CAPACITY SHUTTERED #oott
Natural gas producers and pipeline companies are warning the Biden administration against any move to pause US LNG export approvals https://t.co/WgDvxaUdcz
Oil prices rise, heading for a weekly gain, as Middle East tensions and oil output disruptions caused by cold weather in the #US, the world’s biggest producer, overshadow concerns about the health of the Chinese and global economy. https://t.co/INcIHCdxyW
BREAKING: Environmentalists call on Biden admin to tank natural gas project amid nationwide arctic blast https://t.co/phNkotAE4b
⚠️ BIDEN ADMINISTRATION TAKING HEAT FROM ALL SIDES OVER LOUISIANA LNG PROJECT (Reuters) The Biden administration faces mounting pressure over whether to approve a massive new Louisiana LNG export project, with environmentalists saying the facility would undermine U.S. climate… https://t.co/N5wgVfvBLu
Environmentalists call on Biden admin to tank natural gas project amid nationwide arctic blast https://t.co/4YvLFrTmmY
Oil prices drift lower on China demand worries https://t.co/wTcQjcccmJ https://t.co/Rjc3wjrL6d
Cold Snap Knocks Out 15% of US Gulf Coast Oil-Refining Capacity #oott https://t.co/LLoDHNt4eu
Severe winter weather has shut about 15% of the US Gulf Coast’s oil-refining capacity, hampering a key hub for crude processing and exports https://t.co/kDlzfGxes4
Preliminary crude forecast for next week shows a large crude draw. Cold blast/freeze-off will materially impact both refinery throughput and crude production. https://t.co/RnDFFsgJ7K
Oil prices rise as traders weigh demand worries, Middle East supply threats https://t.co/Ef8VExpg45
⚠️ US LNG FEEDGAS CUT BY ARCTIC FREEZE, PROBLEMS AT FREEPORT LNG (Reuters) The amount of natural gas flowing to U.S. liquefied natural gas (LNG) export plants dropped to a one-year low this week as an Arctic freeze caused some energy firms to divert fuel to the domestic market… https://t.co/OsxvpX6dHR
Oil prices struggle for direction as traders weigh demand worries, Middle East supply threats https://t.co/ITDEYep9Vb
US crude prices firm at Gulf Coast as takeaway capacity tightens #oott https://t.co/bNKOFD7PbS
⚠️ US CRUDE PRICES FIRM AT GULF COAST AS TAKEAWAY CAPACITY TIGHTENS (Reuters) Record crude output from the top U.S. oilfield and busy crude pipelines to export hubs are boosting the price of the country's flagship crude at the Gulf Coast, analysts and traders said. West…
US Deep Freeze Force LNG Exporters to Cancel and Delay Shipments Cameron LNG export plant scrapped at least one scheduled cargo Global impact should be limited due to high inventories of gas https://t.co/BU90wrRaix
US Deep Freeze Force LNG Exporters To Cancel And Delay Shipments - BBG https://t.co/cPzICNr4uh
The recent freeze across Texas and Louisiana disrupts scheduled exports of US liquefied natural gas, temporarily tightening some supply of the heating and power plant fuel https://t.co/l6XBy4LA7y
U.S. oil prices rise as dollar pares gains while Brent crude retreats on demand https://t.co/tYTfeVmKDM