Hurricane Francine intensified to Category 1, threatening the Louisiana coast with strong winds, heavy rains, and a storm surge. Oil and gas companies in the Gulf of Mexico have shut down production and evacuated staff due to the storm. The energy sector faces disruptions, with 24% of U.S. Gulf oil and 26% of natural gas production offline. Natural gas prices have increased, while oil futures have declined. Key ports and LNG export plants in the region are preparing for impacts, with some already implementing storm plans.
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00:00It's Benzinga, and here's what's on the block.
00:02Hurricane Francine intensified to Category 1, threatening the Louisiana coast with strong
00:07winds, heavy rains, and a storm surge.
00:10Oil and gas companies in the Gulf of Mexico have shut down production and evacuated staff
00:14due to the storm.
00:15The energy sector faces disruptions with 24 percent of U.S. Gulf oil and 26 percent of
00:20natural gas production offline.
00:23Natural gas prices have increased while oil futures have declined.
00:27Key ports and LNG export plants in the region are preparing for impacts with some already
00:31implementing storm plans.
00:33For all things money, visit Benzinga.com.