U.S. Coast Guard Suspends Operations at Port Fourchon Amid Hurricane Francine

The U.S. Coast Guard has halted operations at Port Fourchon, Louisiana, due to Hurricane Francine. This follows earlier suspensions of marine traffic at multiple essential ports, significantly affecting oil, LNG, and agriculture exports. Approximately a quarter of oil and gas production in the Gulf of Mexico is offline, with 130 platforms and two rigs evacuated.

The U.S. Coast Guard on Wednesday suspended operations at the offshore energy services hub Port Fourchon, Louisiana, as Hurricane Francine bore down on the coast. The temporary closure of Port Fourchon, a home to marine and equipment suppliers to offshore oil producers, follows the suspension of marine traffic at the deepwater Louisiana Offshore Oil Port (LOOP), and the commercial ports of New Orleans, Cameron, and Lake Charles on Tuesday. These ports are essential to oil, LNG, and agriculture exports.

About a quarter of all oil and natural gas production in the U.S. Gulf of Mexico was offline on Tuesday, according to the Bureau of Safety and Environmental Enforcement. A total of 130 production platforms and two rigs had been evacuated. Francine was moving northeast on Wednesday with maximum sustained winds of 90 miles per hour, according to the U.S. National Hurricane Center. A faster motion is expected later in the day as it makes landfall in Louisiana, with its center expected to move across Mississippi on Thursday.

Francine is expected to bring heavy rainfall and considerable flooding risks across southeastern Louisiana, Mississippi, far southern Alabama, and northern Florida. Oil refiners and fuel distributors along the Louisiana coast have been preparing to weather the storm. As the hurricane moved north along from the Texas coast on Wednesday, some ports, including Brownsville near the Mexico-U.S. border, began post-storm assessments in preparation for reopening, the Coast Guard said. Oil and natural gas futures rose on Wednesday, reflecting a decline in U.S. oil inventories and concerns about supply disruptions from the storm. The Gulf of Mexico accounts for about 15% of all domestic oil production and 2% of natural gas output, according to federal data.

(With inputs from agencies.)