Freeze Slams Texas; Power Could Be Out for Days
The deep freeze that has forced the shutdown of U.S. refineries, oil wells and meat plants, disrupted shipments of soybeans and corn, and is still leaving more than 3 million customers without electricity could continue to keep parts of Texas in the dark for several days.
To prevent the collapse of their networks, suppliers from North Dakota to Texas implemented rolling power cuts for a second consecutive day. The operator of the Texas electric grid no longer expects all service to be restored in the state by Tuesday night, saying it could take days for enough power plants to be up and running. Utility CenterPoint Energy Inc. also warned residents blackouts may last for several more days
Blackouts Likely to Continue as Power Supplies Stay Low (7:20 a.m.)
The need for rolling blackouts to control demand on the Texas power network is likely to continue as data shows little sign of improvement in available power supply. Load on the system remains at suppressed levels indicating that restrictions are still in place.
Oil Prices Hold Above $60 as Crisis Spurs Rush for Fuels (4:30 a.m.)
West Texas Intermediate futures held onto gains accumulated this week trading above $60 a barrel while Brent rose for a third day. U.S. gas futures traded near the highest for three months and contracts in Europe surged.
Freeze could keep Texans in the dark for days
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(AP)
. Updated: 17 Feb 2021, 07:05 AM IST Bloomberg
In the Permian Basin, major producer Occidental Petroleum Corp. told customers it would be forced to curtail oil deliveries, while Chevron Corp. shut in some wells in the region
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The deep freeze that has forced the shutdown of US refineries, oil wells and meat plants, disrupted shipments of soybeans and corn, and is still leaving more than 3 million customers without electricity could continue to keep parts of Texas in the dark for several days.
To prevent the collapse of their networks, suppliers from North Dakota to Texas implemented rolling power cuts for a second consecutive day. The operator of the Texas electric grid no longer expects all service to be restored in the state by Tuesday night, saying it could take days for enough power plants to be up and running. Utility CenterPoint Energy Inc. also warned residents blackouts may last for several more days
Freeze Could Keep Texans in the Dark for Days: Energy Update
Bloomberg 2/17/2021 Joe Carroll and Naureen S. Malik
(Bloomberg) -- The deep freeze that has forced the shutdown of U.S. refineries, oil wells and meat plants, disrupted shipments of soybeans and corn, and is still leaving more than 3 million customers without electricity could continue to keep parts of Texas in the dark for several days.
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Operators have been slow to get power generation back online and data showing the availability of generation has little signs of improvement. Without any additional supply, rolling blackouts are likely to be needed Wednesday to prevent the total collapse of the network. On Tuesday, the blackouts spread to North Dakota, Arkansas, Louisiana and Mississippi.