Velocityshares 3X Inverse Natural Gas Etn (DGAZ)

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Hurricane Harvey Impacts Crude Oil And Gasoline

Forbes gives No mention of natural gas shortage

Update: August 29, 2018 7:30 PM Eastern
The Motiva refinery in Port Arthur and the nearby Valero refinery announced that they are shutting down operations due to flooding. It is unclear when they will reopen.

Update: August 29, 2018 7:00 PM Eastern

U.S. refining capacity is now estimated at only 30%. Additional refineries are closing. The Motiva refinery has limited production to 40%. In addition, the Colonial Pipeline has reported disruptions that will impact the delivery of product to the southeast. Expect gasoline prices to rise and possibly increased prices on other petroleum products. As a result of the refining disruptions, crude oil producers will likely curb production. If they do not, we will likely see further reductions in the price of crude oil as stores pile up because there is no where for it to go.

As we support the residents of Eastern Texas who are persevering through the aftermath of Hurricane Harvey and continued flooding, many are asking what the storm means for that region’s most notable products: crude oil and gasoline. The effect on energy commodities does not compare to the devastation to the lives of millions, but oil and gasoline are integral to modern lives. The analysis is best broken into three parts: crude oil production, transportation and storage of oil and gasoline.


https://www.forbes.com/sites/ellenrwald/2017/08/28/hurricane-harvey-impacts-crude-oil-and-gasoline-what-you-need-to-know/#679d8ec24a2d





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