Harvey Leaves A Path of Destruction, Affects Gas And Oil Industries – 28 August, 2017

Tropical Storm Harvey’s path caused a lot of major gasoline refineries to shut down. The storm, which has devastated many cities in Texas, has cased oil prices to slip by 2.7 percent, while gasoline prices have risen to 2.7 percent thus far, reaching a four month high. Harvey is the strongest storm to hit the U.S. since 2004, and flooding has caused toughly 2.6 million barrels a day to remain dormant until it passes. U.S. gasoline prices are currently at $1.7320 per gallon, Brent crude is up 0.4 percent to %52.09 per barrel, and West Texas Intermediate is up 0.5 percent to $46.80 per barrel.