MNI: PBOC Net Drains CNY139 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1710 Weds; -1.55% Y/Y

MNI China Press Digest Feb 12: Consumers, Autos, FDI

MNI BRIEF: Fed's Powell - Neutral Rate Has Risen Meaningfully

MNI BRIEF: Fed Would Use QE Only When Rates At Zero - Powell

MNI BRIEF: Fed's Hammack Says Rate Hike Not In Base Case

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK Bond Supply Calendar: France Syndication "Near Future"

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AMERICAS OIL: Winter Storms Impact US Gulf Coast Though Price Impact Minimal

AMERICAS OIL
USEnergy BulletsNorth AmericaBulletCommodities

Winter Storms Impact US Gulf Coast Though Price Impact Minimal So Far

  • Freezing temperatures overnight and snow in the Houston area caused adverse impact to operations, but energy markets remain focused on macro issues for now.
  • While markets were closed Monday in observance of MLK Day, Tuesday’s trade was mostly lower in reaction to President Trump’s action on tariffs, including a delay in imposing Canada and Mexico tariffs. WTI crude, RBOB gasoline and ULSD markets were all lower in early trade as USGC weather was not viewed as a major threat to supply.
  • Houston weather Tuesday morning shows freezing weather with snow showers and a high of 37-degrees Fahrenheit today. However, overnight temps could be sub-freezing again, thus freeze-offs and pipeline disruptions remain a threat.
  • Pilot service into Lake Charles, Louisiana was suspended at 6 pm local time Monday until further notice, according to message from Moran Shipping.
  • Kinder Morgan has suspended activity at docks at Galena Park and Pasadena Terminals starting immediately due to winter weather, the company said in notice to customers. 
170 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Winter Storms Impact US Gulf Coast Though Price Impact Minimal So Far

  • Freezing temperatures overnight and snow in the Houston area caused adverse impact to operations, but energy markets remain focused on macro issues for now.
  • While markets were closed Monday in observance of MLK Day, Tuesday’s trade was mostly lower in reaction to President Trump’s action on tariffs, including a delay in imposing Canada and Mexico tariffs. WTI crude, RBOB gasoline and ULSD markets were all lower in early trade as USGC weather was not viewed as a major threat to supply.
  • Houston weather Tuesday morning shows freezing weather with snow showers and a high of 37-degrees Fahrenheit today. However, overnight temps could be sub-freezing again, thus freeze-offs and pipeline disruptions remain a threat.
  • Pilot service into Lake Charles, Louisiana was suspended at 6 pm local time Monday until further notice, according to message from Moran Shipping.
  • Kinder Morgan has suspended activity at docks at Galena Park and Pasadena Terminals starting immediately due to winter weather, the company said in notice to customers.