Oil prices (BZ=F, CL=F) are facing downward pressure as Hurricane Beryl approaches Texas. Rob Thummel, Tortoise senior portfolio manager, joins the Morning...
) are facing downward pressure as Hurricane Beryl approaches Texas. Rob Thummel , Tortoise senior portfolio manager, joins the Morning Brief to discuss the potential impact of this extreme weather event on energy operations and markets.
So uh ho hopefully the the destruction is limited just for the people and the human element of it um for the business element of it uh there's a lot of infrastructure that, that's, that's right around the Corpus Christi area.I don't know if there's ever good news in a hurricane but, but the, the infrastructure has been built, II I think to withstand these hurricanes because they have been more common.
How much more investment capital expenditures do you expect them to put forward towards safeguarding against future events?Um What I would say is, you know, the the energy sector in general, one of the things investors like about the sector is the capital discipline which has led to significant amount of earnings that have been converted to cash and then that cash is then then being paid back to investors in the form of higher dividends and stock buybacks.
And Bob outside of what we're seeing um weather wise and hurricane uh Beryl here in the US, of course, when we talk about the price of crude and the price of Brent.I'm curious how you're factoring that into your not only your short term projections, but really also what we could see for that price action looking, looking ahead towards the end of the year.
If demand remains in place globally and, and meets what everybody's expecting, you're gonna have a, an undersupply uh crude oil market for, for really for this quarter and, and, and next quarter as well, that'll bring inventories down and that when inventories come down, that means prices go up. "Two years ago, workers who lost their jobs could simply walk across the street to find new work. That has become increasingly difficult," BCA said.
Rob Thummel Energy Infrastructure Downward Pressure Oil Prices Hurricane Beryl Business Operations
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hurricane Beryl heads toward Jamaica as a major hurricane after ripping through southeast CaribbeanHurricane Beryl roared through open waters Tuesday as a powerful Category 4 storm heading toward Jamaica after earlier making landfall in the southeast Caribbean, killing at least six people.
Read more »
The Daily Chase: Oil price touches 2-month high as Hurricane Beryl loomsHere are five things you need to know this morning.
Read more »
Hurricane Beryl: More than 1.5 million without power in TexasHurricane Beryl swept ashore in Texas as a Category 1 storm in the dark of the early morning hours Monday, lashing Houston with heavy rains and powerful winds, and knocking out power to 1.5 million homes and businesses as fast rising waters caused street flooding and prompted rescues.
Read more »
Hurricane Beryl makes landfall on Texas coast as a Category 1 stormBeryl made landfall on the Texas coast near Matagorda early Monday with a dangerous storm surge and strong winds, the National Weather Service reported.
Read more »
Hurricane Beryl Leaves Thousands in Texas Without Power(Bloomberg) -- More than 160,000 homes and businesses in Texas lost power after Hurricane Beryl made landfall in the state, bringing howling winds and...
Read more »
Beryl Makes Landfall In Texas As Category 1 HurricaneAbout 1 million homes and businesses were without power hours after Beryl made landfall, according to CenterPoint Energy in Houston.
Read more »