The Louisiana Offshore Oil Port, the U.S.’s largest point of entry for foreign crude, is receiving an increasing amount of domestic oil shipped by tanker and is taking steps to accept more in the future.
The Louisiana Offshore Oil Port, the single largest entry point for crude coming into the U.S., plans to suspend offloading oil tankers tomorrow afternoon as Tropical Storm Isaac moves through the Gulf of Mexico.
Oil climbed the most in a week and gasoline rose to the highest in almost four months as Tropical Storm Isaac strengthened, crimping output in the Gulf of Mexico, and a fire in Venezuela shut part of the world’s No. 2 refinery.
Tropical Storm Isaac’s threat to offshore energy production in the Gulf of Mexico eased as the weather system weakened while still dumping rain and producing storm surges over Louisiana. Forecasters expect it to become a tropical depression later today.