Texas moves toward post-Harvey recovery; gas prices slip

5 Sep 2017   Oil Supply

Texas on Monday edged toward recovery from the devastation of Hurricane Harvey as shipping channels, oil pipelines and refineries restarted some operations and authorities lifted an evacuation order for the area around a once-burning chemical plant. Port operations across the U.S. Gulf Coast oil and gas hub were resuming, although many still had restrictions on vessel draft, according to U.S. Coast Guard updates. U.S. gasoline prices fell in expectation that the area can get back on its feet after Harvey wrought a path of destruction stretching for more than 300 miles (480 km), killing an estimated 50 people and displacing more than 1 million. Benchmark U.S. gasoline futures fell by more than 3 percent on Monday. The Coast Guard allowed some barge traffic to enter Port Arthur, Texas, home of the country‚Äôs largest oil refinery, and is considering allowing ships to enter on Tuesday, a spokesman […]

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