Oil

Royal Dutch Shell staff have returned to a major oil and gas platform in the Gulf of Mexico in preparation to restart production one week after its shutdown due to Hurricane Harvey, industry sources said on Wednesday.

The largest refinery in the country has cut output by nearly half as it deals with Tropical Storm Harvey, which continues to pummel the Texas Gulf Coast.

U.S. gasoline futures jumped 4 percent while crude prices were mixed Tuesday after a hurricane shut down 16 percent of the country's refining capacity, curbing fuel production and further bloating crude inventories.

Crude prices slipped more than 1.5 percent lower on Tuesday as the market grappled with the shutdown of more than 16 percent of refining capacity in the United States after a hurricane ripped through the heart of the country's oil industry.

Crude prices slipped more than 1.5 percent lower on Tuesday as the market grappled with the shutdown of more than 16 percent of refining capacity in the United States after a hurricane ripped through the heart of the country's oil industry.

Former Shell President John Hofmeister said Tropical Storm Harvey poses risks to the US energy supply during an appearance on FOX Business.

Former Shell President John Hofmeister said Tropical Storm Harvey poses risks to the US energy supply during an appearance on FOX Business.

The S&P 500 and Dow ended little changed on Monday, with energy and bank shares lower as Tropical Storm Harvey crippled the U.S. energy hub in Texas, while tech and healthcare gave a boost to the Nasdaq.

CME Group Chairman Terry Duffy on Monday said European and Asian refineries can only do so much to aid U.S. refineries, after being hit by Hurricane Harvey.

Some oil production in the Gulf of Mexico returned Monday, as companies began to recover from Hurricane Harvey.

Some oil production in the Gulf of Mexico returned Monday, as companies began to recover from Hurricane Harvey.

U.S. crude oil futures fell more than 3 percent on Monday but gasoline prices surged to two-year highs as Tropical Storm Harvey kept hammering the U.S. Gulf Coast, knocking out several refineries which backed up crude supplies and disrupted fuel production.

Drivers across the U.S. will see Hurricane Harvey’s impact at the gas pump, as the energy hub of southeast Texas faces devastating floods.

As the dangers of Tropical Storm Harvey continue to threaten residents in areas of the Texas Gulf Coast and Louisiana, local administrators warn this could be a “landmark” national disaster for the United States.

As the dangers of Tropical Storm Harvey continue to threaten residents in areas of the Texas Gulf Coast and Louisiana, local administrators warn this could be a “landmark” national disaster for the United States.

U.S. gasoline futures jumped to two-year highs while an already weak dollar hit 16-month lows against a basket of currencies on Monday as Tropical Storm Harvey pummeled the heart of the U.S. energy sector.