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Oil Falls but Gasoline Surges as Harvey Returns Ashore

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Gasoline and oil prices continued to diverge on Wednesday, as Tropical Storm Harvey dumped more rain along the Gulf Coast and forced the full shutdown of the nation's largest refinery.

U.S.'s Largest Refinery Shuts Due to Harvey Flooding

Tropical storm Harvey shut down a third Gulf Coast refining center Wednesday and is knocking on the door of a fourth, cutting even more deeply into the U.S. refining capacity.

U.S. Oil Supplies Fall More Than Expected

U.S. inventories of crude oil declined by 5.4 million barrels, triple the amount expected, for the week ended Aug. 25 as refinery activity surged toward full-throttle, according to EIA data.

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Analysts See Small Addition to U.S. Natural Gas Inventories

Analysts expect government data scheduled for release Thursday to show that stockpiles rose by 31.4 billion cubic feet, less than average for this time of year.

Fallout From Harvey to Disrupt Energy Markets Around the World

Tropical Storm Harvey is upending the flow of oil and petroleum all around the world-a consequence of the growing influence of the U.S. in the global energy industry.

Beijing Shows Its Power With China's Latest Megamerger

The combination of the country's leading coal miner and power producer is the clearest sign yet of Chinese leaders' desire to enhance the role of big state-owned companies.

Peabody Wants to Be Dropped From Climate Change Lawsuits

Coal producer Peabody Energy Corp. says its recent emergence from bankruptcy shields it from lawsuits brought by three coastal California communities against fossil fuel companies over rising sea levels.

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.

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.

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.

(END) Dow Jones Newswires

August 31, 2017 00:15 ET (04:15 GMT)