Harvey’s rains shut in more U.S. refineries, sending fuel prices higher

29 Aug 2017   Refining, USA

 U.S. fuel prices surged on Monday as two more Gulf Coast refiners cut output and a third considered reductions, leaving more than 13 percent of the country’s refining capacity offline after Tropical Storm Harvey flooded plants and shut seaports. The storm swung back over the Gulf of Mexico on Monday and was expected to bring another 10 to 15 inches (25 to 38 cm) of rain to the Houston area and up to 8 inches as far east as New Orleans, the National Weather Service said. Marathon Petroleum Corp’s Galveston Bay refinery in Texas City, Texas, cut production by half, sources familiar with plant operations said. Lyondell Basell Industries’ Houston refinery early on Monday also cut output by half to conserve crude supply, other sources said. Meanwhile the nation’s largest plant, Motiva Enterprises’ [MOTIV.UL] 603,000-barrel-per-day (bpd) Port Arthur, Texas, refinery was considering shutting due to high […]

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