US Gulf Coast Energy Facilities Brace for Hurricane Francine

Energy facilities along the U.S. Gulf Coast have scaled back operations and evacuated some production sites as Hurricane Francine barrels towards the energy-rich region. Francine is tracking to make landfall in Louisiana on Wednesday afternoon. Forecasts call for potentially deadly storm surge, destructive winds, and widespread flooding. 

About 24% of crude production and 26% of natural gas output in the Gulf of Mexico were offline due to the storm, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) said on Tuesday. Such interruptions have the potential to affect U.S. oil supplies, leading to upward pressure on prices for domestic oil and offshore crude grades.