# Ida update: oil markets open higher; ALAN gives guidance - FreightWaves

> Oil markets opened higher on Sunday evening after Hurricane Ida shut much of Gulf of Mexico output. S&P Global Platts, citing BSEE data, said about 96% of Gulf oil production was offline, and roughly 4.4 million barrels/day of refining capacity lay in the storm's path. ULSD rose 3.79 cents/gallon, or 1.8%, to $2.1471.

- Date: 2021-08-30 · published 2021-08-30T12:00:00.000Z
- Category: weather · region US · magnitude high
- Page: https://feedsoft.ai/events/45745-ida-update-oil-markets-open-higher-alan-gives-guidance-freightwaves
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A near-total loss of Gulf production and refining capacity tightens crude and product supply, lifting diesel and fuel costs that feed into freight and feed-ingredient transport. The move is strongest in products, where refinery outages are most acute.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-04-22 | [Malaysian palm oil up - Markets - Business Recorder](https://feedsoft.ai/events/15656-malaysian-palm-oil-up-markets-business-recorder.md) | +1.5% | -2.9% |
| WTI | 2025-02-19 | [Arctic blast sends natural gas to highest since 2022, and oil ticks up on supply worries - MarketWatch](https://feedsoft.ai/events/8691-arctic-blast-sends-natural-gas-to-highest-since-2022-and-oil-ticks-up-on-supply.md) | -4.2% | -6.7% |
| WTI | 2023-06-21 | [Oil rallies as grain markets tighten, dollar falls on Fed Chair comments](https://feedsoft.ai/events/9771-oil-rallies-as-grain-markets-tighten-dollar-falls-on-fed-chair-comments.md) | -4.4% | +6.5% |
| WTI | 2026-07-29 | [Market Update for Rapeseed & Canola 29th of July 2026](https://feedsoft.ai/events/18453-market-update-for-rapeseed-and-canola-29th-of-july-2026.md) | -2.7% | +8.2% |
| WTI | 2022-12-23 | [Storm cuts U.S. oil, gas, power output, sending prices higher](https://feedsoft.ai/events/38414-storm-cuts-u-s-oil-gas-power-output-sending-prices-higher.md) | +3.3% | +3.0% |
| BRENT | 2025-02-19 | [Arctic blast sends natural gas to highest since 2022, and oil ticks up on supply worries - MarketWatch](https://feedsoft.ai/events/8691-arctic-blast-sends-natural-gas-to-highest-since-2022-and-oil-ticks-up-on-supply.md) | -4.1% | -6.4% |
| BRENT | 2023-06-21 | [Oil rallies as grain markets tighten, dollar falls on Fed Chair comments](https://feedsoft.ai/events/9771-oil-rallies-as-grain-markets-tighten-dollar-falls-on-fed-chair-comments.md) | -5.0% | +4.9% |
| BRENT | 2024-09-12 | [The Commodities Feed: The complex moves higher \| articles \| ING THINK](https://feedsoft.ai/events/10171-the-commodities-feed-the-complex-moves-higher-articles-ing-think.md) | +5.1% | +9.0% |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/sunday-evening-ida-update-oil-markets-open-higher-alan-gives-guidance

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.