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Big freeze in Texas becoming a global oil market crisis

Big freeze in Texas becoming a global oil market crisis
lmtonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lmtonline.com Daily Mail and Mail on Sunday newspapers.

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Gulf Coast fuel makers could be shut for another week

Gulf Coast fuel makers could be shut for another week
Barbara Powell and Jeffrey Bair, Bloomberg
Feb. 18, 2021
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Restarting a refinery isn’t like flipping a light switch when the power comes back on.Brandon Thibodeaux/NYT
Fuel makers on the U.S. Gulf Coast may take a week or longer to get their frozen oil refineries running safely, even if at reduced rates, and that could mean higher gasoline and diesel prices at the pump.
The deep freeze and power outages roiling energy markets affected more than 20 oil refineries in Texas, Louisiana and Oklahoma. Crude-processing capacity fell by about 5.5 million barrels a day, according to Amrita Sen, chief oil analyst for consultant Energy Aspects Ltd. ....

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Jerry Jones' gas company 'hits jackpot' with surge during Texas power outages

Jerry Jones gas company hits jackpot with surge during Texas power outages
Sergio Chapa, Bloomberg
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FILE: Jerry Jones, owner of the Dallas Cowboys, looks on before the game against the Washington Football Team at FedExField on October 25, 2020 in Landover, Maryland. (Photo by Patrick McDermott/Getty Images)Patrick McDermott/Getty Images
(Bloomberg) The natural gas producer owned by Dallas billionaire Jerry Jones is cashing in on a surge in prices for the fuel as a brutal freeze grips the central U.S., leaving millions without power.
Comstock Resources Inc. has been able to sell gas from its Haynesville Shale wells in East Texas and northern Louisiana at premium prices since Thursday. As demand jumps amid the cold, gas at some regional hubs has soared past $1,000 per million British thermal units. ....

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Oil holds near $60 amid power crisis

Oil holds near $60 amid power crisis
lmtonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lmtonline.com Daily Mail and Mail on Sunday newspapers.

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U.S. energy crisis leaves millions without power in big freeze

U.S. energy crisis leaves millions without power in big freeze
Brian K. Sullivan and Naureen S. Malik, Bloomberg
Feb. 16, 2021
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Pump jacks operate in the Permian Basin in Midland, Texas, U.S, on Saturday, Feb. 13, 2021. The arctic freeze gripping the central U.S. is raising the specter of power outages in Texas and ratcheting up pressure on energy prices already trading at unprecedented levels. Photographer: Matthew Busch/BloombergMatthew Busch/Bloomberg
(Bloomberg) The energy crisis crippling power grids across the U.S. showed no sign of abating on Tuesday morning as blackouts left almost 5 million customers without electricity during unprecedented cold weather. ....

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