Hurricane Harvey threatening to bring US to halt as fuel network squeezed by floods

Hurricane Harvey threatening to bring US to halt as fuel network squeezed by floods
 

At least 3.6 million barrels per day (bpd) of refining capacity is offline and more refineries are at risk of shut downs as the storm relentlessly dumps rain on Texas and heads toward Louisiana.
The longer refineries remain shut, the more retail prices will increase, traders and analysts said. 
Two of the major pipelines delivering gasoline, diesel and jet fuel from the Gulf Coast are operating at reduced rates or plan to shut entirely, with wholesale markets in Chicago and the Gulf region seeing sharply higher prices.
Jeff Lenard, NACS vice president of strategic industry initiatives,... read more

 
30 August 2017 in World News, Views: 38
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