Oil prices (BZ=F, CL=F) 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.
Thummel emphasizes the United States’ position as "the largest exporter of energy in the world," highlighting the significance of the hurricane’s path through a key port for energy infrastructure and business operations. However, Thummel suggests that these disruptions could temporarily decrease prices for US consumers, describing this as the "primary impact" of the hurricane on energy markets.
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