HOUSTON -The Texas energy industry was evaluating the impact from Hurricane Beryl on Monday after the powerful storm lashed the U.S. Gulf Coast, closing key shipping ports and hitting the oil refining and production sectors.
Texas is the largest U.S. oil and gas producing state, accounting for some 40% of oil output and 20% of gas production.futures were down about 87 cents on Monday to $82.29 a barrel, as hopes of a ceasefire deal in Gaza eased global supply concerns and capped gains driven by storm-related disruptions.
Heavy winds swept through Houston on Monday morning as streets and waterways flooded, according to a Reuters witness and images on social media. Formosa Plastics, meanwhile, experienced a malfunction with a gas compressor system during a shutdown for the storm at its Point Comfort facility, according to a state regulatory filing. The company did not immediately respond to a request for comment.), meanwhile, said it had comprehensive plans in place to protect staff, assets and communities during severe weather, but declined to comment on its 585,000-bpd Galveston Bay refinery operations.