About A Quarter Of US Fuel Output Shut As Harvey Churns On

31 Aug 2017   Oil Supply

The heart of the US energy industry suffers further damage and supply constraints could last for weeks. HOUSTON, Aug 30 (Reuters) – Tropical Storm Harvey inflicted more damage on the heart of the U.S. energy industry overnight after flooding the biggest U.S. refinery in Texas and then churning into Louisiana, causing fuel shortages and high gasoline prices that could afflict the country for weeks. Harvey’s disruption of the petroleum industry has driven gasoline futures prices up 16 percent over the past week and prices at the pump are rising too, particularly in the South. Major pipelines carrying gasoline and diesel fuel to Midwest and East Coast markets have been either throttled back or shut due to reduced supply. Colonial Pipeline Co, the key artery serving the East Coast, said the lack of supply in Houston, will continue to slow its entire system, which delivers more than 3 million barrels […]

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