U.S. crude oil loadings in the week ended September 6 decreased by 0.9 MMb/d from the prior week to 2.9 MMb/d and 24 tankers received crude oil cargoes for export, down by eight on the week. The four-week moving average (dashed red line in Figure 1 below) now stands at 3.6 MMb/d.

Some Gulf of Mexico oil and gas platforms evacuated personnel and shut in production ahead of Tropical Storm Francine’s passage while ports along the Texas and Louisiana coasts increasingly halted all inbound and outbound vessel traffic ahead of the storm’s landfall.

U.S. Gulf Coast ports are taking steps to get ready for rough weather as Tropical Storm Francine advances northeast across the Gulf of Mexico toward what is expected to be a Louisiana landfall.

US oil and gas rig count was down slightly to open the month, as total rigs dipped to 582 for the week ending September 6, a loss of one vs. a week ago according to Baker Hughes. Rigs were added in the Permian (+1), while the Anadarko (-1) and Niobrara (-1) both lost rigs.

Total U.S. waterborne exports of ethane rose to 355 Mb/d in August, up 33 Mb/d from July but 7 Mb/d below the 2023 average.

East Coast waterborne shipments out of Energy Transfer’s Marcus Hook terminal weakened in August to 47 Mb/d, down 19 Mb/d from July. (See chart below)