Beryl is First to Make Landfall in U.S. This Season

Hurricane Beryl made landfall at four o’clock this morning on the Texas coast as a Category 1 hurricane. In addition to the high winds, rainfall amounts of five-to-ten inches are expected. Major ports on the Gulf have shut down. There is also concern that the strong winds could damage oil refinery infrastructure. Energy industry analysts indicated any prolonged disruptions to the Texas refinery business would be bearish for crude oil and bullish for refined fuels.