Harvey hits U.S. fuel supplies to Latin America

28 Aug 2017   Latin America

Tropical Storm Harvey could cause fuel shortages in Latin America after it shut in around 1 million barrels per day of U.S. gasoline and diesel exports typically destined for countries such as Mexico.Harvey barreled into Texas on Friday as the strongest hurricane to hit the state at the heart of the U.S. oil and gas industry in over 50 years. The United States is the world’s largest net fuel exporter, and most of those shipments sail from ports in Texas and Louisiana. Harvey shut down the ports of Corpus Christi and Houston in Texas, and both are major fuel export ports. “Any hiccup in U.S. refined product exports is highly disruptive to the supply chain given the dependency of nations like Mexico and other Latin American countries on the U.S.,” said Michael Tran, director of global energy strategy at RBC Capital Markets. “The reliance on […]

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