As much as 1.74 million barrels a day, or 95.7% of crude output and 93.8% of gas output, was shut down after Hurricane Ida struck the US Gulf of Mexico and Louisiana.
- Up to 2.11 million barrels a day of refining capacity, an equivalent of 12% of the US total, was also shut down along the Mississippi River.
- Other refineries to experience shutdowns or reduced capacity included Valero, PBF Energy, Shell, Exxon Mobil, Phillips 66, and Marathon.
- Major producers, including BP Plc, Equinor SA, BHP, Murphy Oil Corp., and Chevron, operated at reduced capacity.
- The New Orleans port was affected, while paused deliveries were announced at LOOP port.
The shutdowns saw the Canadian Pipeline close lines 1&2, which are main gasoline and distillate pipes from Houston to Greensboro, NC.
CL1! is down -1.24%, NG1! is up +0.96%Source: Bloomberg