The platforms have been evacuated and shuttered and the refineries are closed as the slow moving Hurricane Sally ravages the Gulf Coast.
“We’re probably talking perhaps a hundred or more oil rigs that are being evacuated in addition to some refineries in the path of Sally has preemptively shut down as well,” says Patrick DeHaan with Gas Buddy.
Oil prices were up at the close on Tuesday.
Production of oil and natural gas is temporarily on hold.
“All of that really not much of an impact. We have plenty of oil because of the coronavirus situation. Inventories are still ample compared to last month, up double digits percentage-wise,” DeHaan adds, suggesting consumers won’t see much of an impact on the price at the pump.
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