Gulf Operations Resume After Hurricane Humberto

Refineries in the US Gulf of Mexico are resuming normal operations after another hurricane alert in the region meant oil and gas companies shut down production for a third time this season.

Hurricane Humberto lashed the Texas-Louisiana border area on Thursday, shutting down three refineries and cutting power to more than 100,000 customers.

Oil prices are still up about 30% this year but traders are looking to the next Gulf storm, Tropical Storm Ingrid, which formed late on yesterday and is heading for the north-eastern Caribbean.

By staff writer