Markets
Gasoline futures continue to soar on Harvey-related outages
This Exxon station in Arlington is out of gas due to a shortage in the wake of Hurricane Harvey . "It is important to remember not to panic and overbuy gas - as there is no evidence that there will be a shortage in our states", said Dave Parsons, president of AAA Carolinas, which predicts more than a million people from North and SC will travel this weekend. [Full Article...]
Unofficial end of summer brings no heat relief in US West
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At almost 8 square miles, the fire had charred more land than any other in Los Angeles' history, Mayor Eric Garcetti said. Only one home has burned and no one has been injured as the blaze grew to almost 8 square miles and prompted evacuation orders for more than 600 homes in Los Angeles, Burbank and Glendale. [Full Article...]
Gasoline prices inch higher as hurricane clean-up begins
Data next week will provide a better indication of the extent of the damage to the US energy sector from Tropical Storm Harvey . The report also showed USA gasoline demand jumped to 9.846 million bpd last week as US refining utilization rates rose to 96.6 percent, the highest percentage since August of 2015. [Full Article...]
One-two punch causes Kansas gas prices to spike
The Georgia-based company remains able to operate its pipeline from Louisiana to states east and northeast of there, though deliveries will be "intermittent", the company said. As more refineries come back online in Texas over the next week or so, gas prices are expected to go down. Several gas stations in the Dallas/Fort Worth area are already out of gas or preparing to run out before the end o... [Full Article...]
Gas prices hit 2-year peak in wake of Harvey
Since the devastating flooding in South Texas and Louisiana has disrupted far more crude oil refining capacity in the region than production capacity, the net result of the storm has been less crude oil being refined and less gasoline being produced. [Full Article...]
North Korea: Kim Jong Un watches 'H-Bomb' loaded on new missile
North Korea claims to have built an advanced hydrogen bomb that can be mounted onto an inter-continental ballistic missile (ICBM). The missile flew over Japan, further exacerbating tensions between North Korea and the United States and its allies, Japan and South Korea. [Full Article...]
Oil pulls back further as Harvey continues to weigh
Greg Abbott, center, greets Energy Secretary Rick Perry , right, as they prepare to visit areas affected by Hurricane Harvey , Thursday, Aug. 31, 2017, in Corpus Christi, Texas. Normally, gas prices start to decrease at the end of summer, according to AAA Carolinas. Moreover, since Harvey made landfall on Friday, the storm has knocked out about 4 million barrels a day of refinery activity ar... [Full Article...]
US More Than Triples Release From Strategic Oil Reserve
Harvey , which brought record flooding to the US oil heartland of Texas over the weekend, killed at least 35 people and paralyzed at least 4.4 million barrels per day (bpd) of refining capacity, according to company reports and Reuters estimates. [Full Article...]