Gas Prices Spike As Harvey Shuts Down Gulf Coast Refineries

Gasoline prices hit two-year highs today in electronic trade
after Hurricane Harvey, which reached the Texas coast last Friday,
caused the shutdown of a number of refineries. Gasoline was trading
at US$1.7595 a gallon, up 5.57 percent from Friday’s close, but
west Texas Intermediate was down 0.55 percent to US$47.73 a barrel
at 6:30 AM EDT. According to an S&P Platts report, around 2.2
million bpd in refining capacity was shut down or in the process of
being shut down as of Monday morning. Refineries in the Corpus
Christi area had shut…

Gasoline prices hit two-year highs today in electronic trade
after Hurricane Harvey, which reached the Texas coast last Friday,
caused the shutdown of a number of refineries. Gasoline was trading
at US$1.7595 a gallon, up 5.57 percent from Friday’s close, but
west Texas Intermediate was down 0.55 percent to US$47.73 a barrel
at 6:30 AM EDT. According to an S&P Platts report, around 2.2
million bpd in refining capacity was shut down or in the process of
being shut down as of Monday morning. Refineries in the Corpus
Christi area had shut…