*More Than 90% Of Gulf Oil Offline as LNG Plants, Refineries Prep for Hurricane*
More than 90% of the US Gulf Coast oil crude production went offline in expectation of Storm Delta this weekend which is due to strike the region imminently today. The storm is aiming for the same region that Hurricane Laura targeted earlier in September which caused a shutdown of production in a similar fashion. On the 8th October, 1.69 million bpd were offline. (S&P Global Platts)
*Oil Jumps on Supply Cuts in U.S. Gulf, Wariness About North Sea, OPEC*
Oil settled above the $43 per barrel mark on Thursday as market colour disseminated throughout of potential reversals of planned relaxation of output quotas from OPEC and Saudi Arabia, with the ongoing Norwegian oil strikes affecting over 25% of output as talks over pay is yet to be rectified or solution found. (Reuters)
*HSBC To Target Net-Zero Financed Emissions By 2050*
The global bank has released plans to prioritise investment and financing that supports a transition to net-zero emissions by 2050. The agreement will see the firm align its financed emissions to that of the Paris Agreement goal to reach net-zero emissions by 2050 as it looks to build a healthier and more sustainable way of going about business for future generations. (S&P Global Platts)