Hotbed of misinformation: Tesla hits back at racist company culture claims
Donald Trump to name Jerome Powell as US Federal Reserve chairman
Editorial: Don't be fooled, sign up for health coverage
Zumbathon for Puerto Rico
Why they start and how they can be stopped — Wildfires
US Crude Rallies; Gasoline Futures Hit Two-Year High
01 Setiembre 2017, 01:32 | Dolorita Barahona
This is How Hurricane Harvey Is Driving the Price of Gas
USA weather services downgraded Harvey to a tropical storm on Saturday. but torrential rains have continued to drown the area and are expected to continue for most of the week.
Average retail gasoline prices have risen to $2.449 per gallon nationwide, up 4.5 cents a gallon from a day earlier and 10.1 cents from a week ago, AAA data showed.
"As a result of the flooding, a large amount of refining capacity is offline meaning that gasoline production is severely curtailed", said William O'Loughlin, investment analyst at Rivkin Securities. The disruption sent motor fuel as much as 6.6 percent higher in NY, while the resulting reduction in demand from plants hit by the storm kept crude near a five-week low. And restarts are unsafe periods, as fires and explosions can occur.
"There's definitely a psychological impact", said Joe McMonigle, a former Energy Department official who now serves as senior energy analyst at the Hedgeye Potomac Research Group.
The EIA's next weekly dataset is due on Wednesday, with the agency reporting for the week ended August 25, just before the storm that hit Texas. The Ship Channel is the busiest in America and remains closed by the storm.
"This is not going to have an apocalyptic impact on what we pay at the pump", he said. Besides slowing seasonal demand, refineries also are scheduled to begin selling less-expensive winter-blend fuels beginning next month.
The release of 1 million barrels is small compared with USA demand of almost 20 million barrels per day. Royal Dutch Shell Plc also halted operations at its 325,700-bpd Deer Park, Texas, refinery. Refineries in Lake Charles, Lousiana, could shut or reduce rates as Harvey moves east. Not every plant in the region was hit. Philadelphia Energy Solutions, the region's largest refiner, said it had sold all its available regular gasoline barrels because of increased demand, while Monroe Energy's refinery had increased runs.
Exxon, meanwhile, also temporarily shuttered a massive plant in Baytown, Texas, with a capacity of more than 560,000 barrels per day, according to reports from CNBC. All of those refineries have been impacted by Harvey since Thursday when refineries in Corpus Christi, Texas, shut in production ahead of the storm's landfall on Friday.
He said that the United States imports about 700,000 barrels a day of heavy crude oil from Venezuela and exports about 75,000 barrels a day of refined petroleum products.
At the same time, USA condensate shipments from the Gulf Coast have been curtailed by the closure of lines belonging to Explorer Pipeline, reducing supplies of the material that oil-sands producers use to dilute their bitumen so it can flow through pipelines. Citgo is keeping a close eye on operations, a spokeswoman said Monday night.
No. 1 Alabama Takes On No. 3 Florida State In Marquee Opener
The Seminoles then reached the first College Football Playoff the following season but were blown out by OR and haven't been back. Okay, technically it's been 229 if you count the "Week 0" games played this past weekend, but none of them were meaningful.
FDA approves gene-therapy leukemia treatment
The therapy's cost will be another issue. "I don't want to be an apologist for high drug prices in the U.S.", Grupp stressed. The therapy, also known as tisagenlecleucel, is a suspension meant to be used one time, with a patient's T calls.
Guard using FTC to aid in relief efforts
Check back with The Mesquite website for updates on our students in the National Guard as this is a developing story. She said she had returned to her neighbourhood on Wednesday to survey the damage to her one-story house.
5 things to watch for Thursday night | Ohio State vs
I didn't keep track of whether Tom was better at predicting games than I was last season, but you can bet I will this year. Early, late openers: Ohio State's earliest and latest openers both come from the earliest days of the football program.
Moto X4 review — Hands on
The K8 Note is crafted entirely out of series 5000 aluminum and looks quite sleek, especially in the stealthy Venom Black colour . Coming to the specifications, the Moto X4 features a 5.2-inch full HD LTPS IPS display with Corning Gorilla Glass protection.
Trump heads to Missouri for tax speech
They're both working hard and extremely committed to providing tax relief for middle-class America. "They say they need to do it". Sullivan voted in favor of the GOP health repeal bill that failed in late July, while Murkowski was opposed.