After rising continuously for four weeks, oil prices fell on Monday due to the prospect of a ceasefire agreement in Gaza easing tensions in the Middle East and investors assessing the potential damage Hurricane Beryl could cause to US energy supplies. In terms of product structure, operating income for products worth 10-30 billion yuan respectively amounted to 401/1288/60 million yuan.

Production reduction.

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Ports in Corpus Christi, Houston, Galveston, Freeport, and Port Aransas were closed on Sunday in preparation for Hurricane Beryl. The hurricane is expected to make landfall on the central coast of Texas between Galveston and Corpus Christi later on Monday. Citgo Petroleum Corp reduced the production of its Corpus Christi refinery in Texas, which has a daily output of 165,000 barrels, on Saturday before Hurricane Beryl approached the Texas coast.

As the storm moved towards the Lava Caca port along the coast, Cenovus planned to maintain the minimum production of the Corpus Christi refinery.

Shell Oil Company stated that it successfully evacuated workers from its Perdido production platform in the US-regulated Gulf of Mexico before the storm hit. Production in the Perdido oil field had already been stopped before the evacuation. The company also stated that it had evacuated workers from the Whale oil field, which will begin production later in the year.

Shell Oil Company stated that it successfully evacuated workers from its Perdido production platform in the US-regulated Gulf of Mexico before the storm hit. Production in the Perdido oil field had already been stopped before the evacuation. The company also stated that it had evacuated workers from the Whale oil field, which will begin production later in the year.

Gibson Energy, which operates a major oil terminal in Corpus Christi, stated that its operations continued but that further measures would be taken according to predictions.

According to the US National Hurricane Center, the storm was moving on Saturday with maximum sustained winds of nearly 60 miles per hour (95 kilometers per hour).

"While this presents a risk to some offshore oil and gas production, the concern is that there could be a potential impact on refining infrastructure after the storm makes landfall," said Warren Patterson, an analyst at Dutch bank ING, in a report.

Data from the Energy Information Administration showed that crude oil and refined product inventories fell in the week ending June 28, pushing WTI crude oil up 2.1% last week.

Port closures could temporarily stop crude oil and liquefied natural gas exports, oil transportation to refineries and transportation of motor fuels by refineries.

Beryl is an active Atlantic hurricane currently located inland in Texas. Beryl is the second named storm, first hurricane, and first major hurricane of the 2024 Atlantic hurricane season. It is also the earliest forming Category 5 Atlantic hurricane on record in any calendar year. After forming in the main development region on June 28, Beryl rapidly intensified while moving westward across the central tropical Atlantic. On July 1, Beryl made landfall on Carriacou Island in Grenada as a Category 4 hurricane, causing widespread damage. After entering the Caribbean, the hurricane further intensified, reaching its peak intensity as a Category 5 hurricane early the next day before gradually weakening to a Category 2 hurricane on July 4. It then briefly re-strengthened to a Category 3 hurricane before weakening slightly prior to landfall in southeastern Mexico. The system then crossed the Yucatan Peninsula, weakening to a tropical storm, and entered the Gulf of Mexico, gradually reorganizing into a Category 1 hurricane by July 8.

Beryl is an active Atlantic hurricane currently located inland in Texas.

Beryl is the second named storm, first hurricane, and first major hurricane of the 2024 Atlantic hurricane season. It is also the earliest forming Category 5 Atlantic hurricane on record in any calendar year. After forming in the main development region on June 28, Beryl rapidly intensified while moving westward across the central tropical Atlantic. On July 1, Beryl made landfall on Carriacou Island in Grenada as a Category 4 hurricane, causing widespread damage. After entering the Caribbean, the hurricane further intensified, reaching its peak intensity as a Category 5 hurricane early the next day before gradually weakening to a Category 2 hurricane on July 4. It then briefly re-strengthened to a Category 3 hurricane before weakening slightly prior to landfall in southeastern Mexico. The system then crossed the Yucatan Peninsula, weakening to a tropical storm, and entered the Gulf of Mexico, gradually reorganizing into a Category 1 hurricane by July 8.

Beryl caused catastrophic damage to the islands of Carriacou and Petite Martinique north of Grenada and the islands of Union Island and Canouan in the southern part of St. Vincent and the Grenadines. In Venezuela, three people died, and several others were missing. As of July 5, a total of 12 deaths had been confirmed, with preliminary estimates of losses exceeding $5 billion.