Oil, gas prices rise after Hurricane Ida causes production disruptions
OPIS Global Head of Energy Analysis Tom Kloza notes 14% of U.S. refining has been ‘down’ because of Ida, leading to a little rally and may cause gas prices to increase further during one of the biggest driving weeks of the year.
Divers at the site of an ongoing oil spill in the Gulf of Mexico have identified the source as a one-foot diameter pipeline displaced from a trench on the ocean floor and sheared in half by Hurricane Ida.
Talos Energy, the Houston-based company currently paying for the cleanup, said in a statement issued Sunday evening that the busted pipeline does not belong to them.
The company said it is working with the U.S. Coast Guard and other state and federal agencies to coordinate the response and identify the owner of the ruptured pipeline.
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