Hurricane Harvey Tosses Global Oil Markets Into Chaos

The most powerful Hurricane to hit Texas in more than 50 years
has devastated much of the coast, and the historic flooding is now
causing havoc in the energy markets. The rain is not over, and will
continue over the next few days, spilling a year’s worth of rain
within a week. ExxonMobil shut down its Baytown refinery, the
second largest in the United States with a capacity of 560,500 bpd.
Royal Dutch Shell closed its 360,000 bpd Deer Park refinery,
according to S&P Global Platts, and Phillips 66 shut down its
247,000 bpd Sweeny refinery. …

The most powerful Hurricane to hit Texas in more than 50 years
has devastated much of the coast, and the historic flooding is now
causing havoc in the energy markets. The rain is not over, and will
continue over the next few days, spilling a year’s worth of rain
within a week. ExxonMobil shut down its Baytown refinery, the
second largest in the United States with a capacity of 560,500 bpd.
Royal Dutch Shell closed its 360,000 bpd Deer Park refinery,
according to S&P Global Platts, and Phillips 66 shut down its
247,000 bpd Sweeny refinery. …