Texas Shale Hit Hard By Hurricane Harvey

Crude oil prices are taking a serious hit from Hurricane
Harvey, slammed on multiple fronts at a time when benchmark prices
were already showing some signs of strain. As has already been
widely noted, Hurricane Harvey has knocked out major refineries
along the Gulf Coast. Goldman Sachs said in a research note that an
estimated 3 million barrels per day of refining capacity was
offline, as of Monday. On Tuesday, ExxonMobil began winding down
some operations at its Beaumont, TX refinery as the storm headed
east towards eastern Texas and Louisiana.…

Crude oil prices are taking a serious hit from Hurricane
Harvey, slammed on multiple fronts at a time when benchmark prices
were already showing some signs of strain. As has already been
widely noted, Hurricane Harvey has knocked out major refineries
along the Gulf Coast. Goldman Sachs said in a research note that an
estimated 3 million barrels per day of refining capacity was
offline, as of Monday. On Tuesday, ExxonMobil began winding down
some operations at its Beaumont, TX refinery as the storm headed
east towards eastern Texas and Louisiana.…