How Vulnerable Are Oil Markets To Extreme Weather?

Last week, Hurricane Harvey made landfall in the United States
and for days disrupted the national energy industry. Refineries
were closed, pipelines shut down, tankers held out to sea. The
price of fuel shot up as gas stations went dry across the country,
while crude slumped with a third of the U.S. refinery capacity shut
in. A week later, a recovery is evident and most of the shuttered
facilities in Corpus Christi and elsewhere are slowly coming back
on line. But the impact of Harvey will likely be felt for weeks.
Gas prices, according to EIA…

Last week, Hurricane Harvey made landfall in the United States
and for days disrupted the national energy industry. Refineries
were closed, pipelines shut down, tankers held out to sea. The
price of fuel shot up as gas stations went dry across the country,
while crude slumped with a third of the U.S. refinery capacity shut
in. A week later, a recovery is evident and most of the shuttered
facilities in Corpus Christi and elsewhere are slowly coming back
on line. But the impact of Harvey will likely be felt for weeks.
Gas prices, according to EIA…