US oil producers shut-in offshore output as storm forms in Gulf of Mexico

10 Jul, 2019

A low-pressure system moving westward across the northern US Gulf of Mexico could form a tropical depression late on Wednesday or Thursday, with the potential to produce storm surge from Louisiana to the upper Texas coast, according to the National Hurricane Center.

Chevron Corp, Royal Dutch Shell Plc, BP Plc  and BHP Group Ltd were removing staff from 15 offshore energy platforms, according to company statements. Exxon Mobil Corp was "closely monitoring" the disturbance to determine whether its facilities may be affected, a spokeswoman said.

US crude futures rose $1.41, or 2.4pc, to $59.24 a barrel in early Wednesday trade.

Copyright Reuters, 2019

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