Buckeye Partners LP on Sept. 3 reported that its initial preliminary assessments, subject to physical verification, have not identified any significant damage to its Buckeye Bahamas Hub (BBH) as a result of Hurricane Dorian.
Buckeye will provide further updates after in-depth, on-the-ground inspections and assessments of the storm’s impact on BBH are completed in the coming days. As the hurricane moves away from Grand Bahama Island, Buckeye’s first priority is accounting for the safety of all employees and their families.
Consistent with its efforts when Hurricane Matthew struck in 2016, Buckeye intends to work with its business partners, local first responders and governmental authorities to bring needed supplies to the island as soon as it is safe. The health and well being of its local workforce, the communities where it operates and the Bahamian people are Buckeye’s top priority.
Recommended Reading
What's Affecting Oil Prices This Week? (Aug. 12, 2024)
2024-08-12 - Concerns about geopolitics in the Middle East and supply/demand fundamentals continue to weigh on oil prices in the week of Aug. 12.
What's Affecting Oil Prices This Week? (July 22, 2024)
2024-07-22 - While oil traders have been adding to their net long positions in recent weeks, the rate of increase has slowed. Last week, traders of WTI increased their net long positions by only 4.25% by increasing their long positions while decreasing their short positions, while traders of Brent crude decreased their net long positions by increasing their short positions.
Paisie: Oil Demand to Rise 1.2 MMbbl/d in Second Half
2024-07-28 - WTI’s price is expected to stay in the low $80s/bbl.
What's Affecting Oil Prices This Week? (Aug. 5, 2024)
2024-08-05 - Despite heightened geopolitical tensions, Stratas Advisors expects oil prices to be under pressure again this week with oil prices being affected by the selloff in the equity market.
As Crude Markets Turn Bearish, Will OPEC Come to the Rescue?
2024-09-13 - Despite oil futures prices sliding since August, OPEC continues to keep supplies up, to the bafflement of analysts.