A New Storm Is Barreling Towards Texas Oil Terminals

A storm developing in the southwestern Gulf of Mexico could become the next hurricane to wreak havoc on Gulf Coast oil facilities. Per a report by Argus, the system could evolve into a hurricane before it makes landfall, which is forecast to happen near Corpus Christi—a major Gulf Coast oil hub and home to the largest U.S. oil export terminal, which Canadian Enbridge recently bought. The report said the U.S. Coast Guard had set Corpus Christi to condition X-RAY, which means sustained gale force winds of speeds between 39 and 54 miles per…