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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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The biggest refineries in US are going dark amid the cold


The biggest refineries in US are going dark amid the cold
Jeffrey Bair and Barbara Powell, Bloomberg
Feb. 16, 2021
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The Port Arthur Refinery, operated by Motiva Enterprises, closed Monday.Jon Shapley, Staff photographer / Staff photographer
After creating havoc in the power and natural gas markets, the next commodity sector causing concern in Texas is the state’s enormous oil refining industry, where installations are being forced offline by the big freeze.
The largest refineries in North America shut down Monday because of arctic conditions that have cut electricity, water and fuel supplies across Texas. More than 3 million barrels of daily oil-processing capacity has been idled in the wake of the record-setting cold, according to consultant Energy Aspects Ltd. ....

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Texas cold blast boosts oil


Texas cold blast boosts oil
Sharon Cho, Rob Verdonck and Alex Longley, Bloomberg
Feb. 15, 2021
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Oil rallied to a 13-month high as cold weather in Texas disrupted flows from America’s largest shale patch, exposing the fragility of global supplies amid sharp cutbacks by OPEC and its allies.
U.S. West Texas Intermediate futures surged as much as 2.5% and rose above $60 a barrel for the first time since January last year. Brent crude in London, meanwhile, rose above $63. Permian oil production has fallen by as much as 1 million barrels a day as temperatures fall to minus 1 Fahrenheit (minus 18 degrees Celsius) in Midland, Texas, the de facto capital of U.S. shale production, according to the National Weather Service Midland. ....

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