Since July 10, 7.8 million barrels of oil, or nearly two-thirds of the United States daily oil production, has been lost from Barry, which has become a post-tropical cyclone and was moving over eastern Missouri on Tuesday.
Nuveen Asset Management Chief Strategist Bob Doll on the state of the markets.
Trump said on Tuesday a lot of progress had been made with Iran.
Workers also were returning to the more than 280 production platforms evacuated.
The storm also cut nearly 62 percent of natural gas production in the Gulf region, according to the BSEE.
Gas prices may increase after Tropical Storm Barry makes landfall this weekend.
U.S. oil producers have evacuated oil platform workers from 257 offshore facilities and seven rigs.
Louisiana Oil and Gas Association President Gifford Briggs on the potential impact of Tropical Storm Barry on the oil market.
Former Shell Oil President John Hofmeister on the impact of Tropical Storm Barry on the oil sector.
Refinitiv oil analyst Carl Larry on the impact of Tropical Storm Barry on oil prices.
U.S. oil producers in the Gulf of Mexico have cut more than half their output because of a Tropical Storm Barry,
The incident came at a time of heightened tensions over Iran's unraveling nuclear agreement with world powers.
A decline in U.S. inventories also gave a boost to oil prices.
It’s no secret that Texas is oil country, and a new analysis found the energy sector directly or indirectly supports about one in every six jobs in the state.
Andarko's total Gulf output averaged 166,000 barrels of oil equivalent per day in the first quarter.
Markets are again optimistic about a possible interest rate cut.
The bottom line is the growth in U.S. energy has not only been economically sound policy, but it also has served the environment well. Yet it won’t be enough for some Democrats who want to declare a 'climate emergency.'
EIA also projected U.S. petroleum and other liquid fuels consumption would rise to 20.70 million bpd in 2019.
Oil prices remain under pressure from lingering worries about demand as the U.S.-China trade war has dampened prospects for global economic growth.
The yield on the 10-year Treasury was largely unchanged at 2.04 percent. Bond yields and prices move in opposite directions.
