Chevron announced that non-essential employees and contractors have been pulled from four platforms in the US Gulf of Mexico ahead of a tropical storm
expected to hit the region in just a few days. Bloomberg said Chevron workers from the Anchor, Big Foot, Jack/St. Malo, and Tahiti installations have been evacuated, noting that production in the Gulf so far remains 'normal'. The National Hurricane Center said the tropical system will be named Tropical Storm Francine once it begins to organize. It's expected to strengthen into a hurricane on Tuesday before landfall along the northwestern US Gulf Coast on Wednesday.
estimate this will hit the Texan coast around Tuesday evening and Louisiana the following day with a fairly high probability of tropical storm level winds. Quick look at WTI and RBOB and I wouldn't say there has been a material change in positioning on the most recent data, still lower end of length and I would expect new shorts given last week's price action. One to watch,' Goldman's Ranald Falconer told clients this AM.
Hurricane Oil Majors Offshore Tropical Storm Texas
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