Oil

Gas shortages in East Coast markets are possible.

The U.S. Environmental Protection Agency said on Thursday it has approved emergency fuel waivers for 38 states and Washington, D.C. after Tropical Storm Harvey shut refineries and spiked gasoline prices.

The U.S. Environmental Protection Agency said on Thursday it has approved emergency fuel waivers for 38 states and Washington, D.C. after Tropical Storm Harvey shut refineries and spiked gasoline prices.

The Houston that was battered by Hurricane Harvey is an economic powerhouse whose influence reaches far beyond its region, leading many to worry about when its economy be able to stand up again.

The Houston that was battered by Hurricane Harvey is an economic powerhouse whose influence reaches far beyond its region, leading many to worry about when its economy be able to stand up again.

Motiva Enterprises' Port Arthur, Texas refinery, the nation's largest, may be shut as long as two weeks for assessment of the plant and repair of any damage, sources familiar with plant operations said on Thursday.

Motiva Enterprises' Port Arthur, Texas refinery, the nation's largest, may be shut as long as two weeks for assessment of the plant and repair of any damage, sources familiar with plant operations said on Thursday.

Gasoline prices hit $2 a gallon for the first time since 2015 on Thursday as flooding from storm Harvey knocked out almost a quarter of U.S. refineries.

Gasoline prices hit $2 a gallon for the first time since 2015 on Thursday as flooding from storm Harvey knocked out almost a quarter of U.S. refineries.

Hurricane Harvey is sending pump prices higher for U.S. motorists and causing temporary shifts in the flow of oil and gasoline around the world after taking down a huge chunk of U.S. refining capacity.

Hurricane Harvey is sending pump prices higher for U.S. motorists and causing temporary shifts in the flow of oil and gasoline around the world after taking down a huge chunk of U.S. refining capacity.

Lipow Oil Associates President Andy Lipow on Harvey’s impact on oil and gas.

Gasoline futures surged on Wednesday to another two-year high and crude oil was down, as flooding and damage from Tropical Storm Harvey shut nearly a quarter of U.S. refinery capacity, curbing demand for crude while raising the risk of fuel shortages.

The nation's largest refinery is out of commission, and the critical Colonial pipeline is running at reduced capacity.

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.