Harvey Forces U.S.'s Largest Refinery to Cut Output to 60% Capacity
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The nation's largest refinery in Port Arthur, Texas, said Tuesday it has cut production rates to 60% capacity, as refineries up and down the Texas coast continue to battle the effects of Tropical Storm Harvey.
East Coast May Face Fuel Shortages After Storm Disrupts Major Pipeline
Flooding in Texas has disrupted the flow of fuel on a major pipeline that moves gasoline, diesel and jet fuel to the East Coast.
Cantor Fitzgerald Stops Trading Venezuelan Bonds
Cantor Fitzgerald LP stopped trading Venezuelan debt Tuesday, days after the Treasury Department slapped financial sanctions on the country for undermining democracy.
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Harvey's Widespread Destruction Tests U.S. Shale
Tropical Storm Harvey has shut a significant portion of the state's shale production, cutting off as much as 15% of U.S. oil supplies. Now, the big question is how quickly the sector can make a comeback.
Utilities Shares Rally as U.S. Stock Market Stalls
One sign that investors are playing defense in August: Utilities stocks are leading gains in the S&P 500 this month and are outperforming the broader index in 2017, after the group lagged behind earlier this year.
U.S. Crude-Oil Supplies Seen Decreasing
U.S. crude-oil inventories are expected to show a decrease of 1.8 million barrels in data due Wednesday from the Department of Energy. Gasoline stockpiles are expected to show a decrease of 1.5 million barrels.
Renault-Nissan to Produce Electric Vehicle in China
The French and Japanese car makers are teaming up with Chinese auto maker Dongfeng to make a battery-powered automobile in the world's biggest car market, where EV sales are expected to rise.
Saudis, Russia Push to Extend Their Oil Output Cuts
Saudi Arabia and Russia are pushing to extend their deal to limit crude oil production for another three months, which would leave the output deal between OPEC and non-OPEC producers in place through the end of June, people familiar with the matter said.
Harvey's Lessons for U.S. Energy
The hurricane's hitting the Gulf Coast of Texas highlights how the U.S. now relies on fewer refineries, run closer to their limits, to turn crude into fuel and get it to consumers.
Williams Cos Names John Chandler as New CFO
Pipeline company Williams Cos. named John Chandler as its new chief financial officer, replacing Don Chappel, who announced his retirement earlier this year.
(END) Dow Jones Newswires
August 29, 2017 16:15 ET (20:15 GMT)