Oil

Massive flooding caused by Harvey along Texas' refinery-rich coast could have long-standing and far-reaching consequences for the state's oil and gas industry and the larger U.S. economy.

Massive flooding caused by Tropical Storm Harvey along Texas' refinery-rich coast could have long-standing and far-reaching consequences for the state's oil and gas industry and the larger U.S. economy.

Massive flooding caused by Tropical Storm Harvey along Texas' refinery-rich coast could have long-standing and far-reaching consequences for the state's oil and gas industry and the larger U.S. economy.

About 22 percent of U.S. Gulf of Mexico oil production is offline due to Tropical Storm Harvey, the U.S. Department of the Interior's Bureau of Safety and Environmental Enforcement (BSEE) said on Sunday.

About 22 percent of U.S. Gulf of Mexico oil production is offline due to Tropical Storm Harvey, the U.S. Department of the Interior's Bureau of Safety and Environmental Enforcement (BSEE) said on Sunday.

Damage assessments at four Corpus Christi, Texas, area oil refinerieswere underway on Saturday, a first step toward resuming production at the plants with combined capacity of 836,000 barrels-per-day (bpd), according to Gulf Coast refining sources.

Damage assessments at four Corpus Christi, Texas, area oil refinerieswere underway on Saturday, a first step toward resuming production at the plants with combined capacity of 836,000 barrels-per-day (bpd), according to Gulf Coast refining sources.

Key oil and gas facilities along the Texas Gulf Coast have temporarily shut down as Hurricane Harvey pounds the region with torrential rain and high winds, virtually assuring gasoline prices will rise in the storm's aftermath.

Key oil and gas facilities along the Texas Gulf Coast have temporarily shut down as Hurricane Harvey pounds the region with torrential rain and high winds, virtually assuring gasoline prices will rise in the storm's aftermath.

Extreme flooding threatens to bring Texas shale activity to a halt. Many offshore rigs and refineries have already shut down.

Oil prices rose on Friday as the dollar fell and as U.S. petroleum industry braced for Hurricane Harvey, which could become the biggest storm to hit the U.S. mainland in more than a decade.

FBN’s Lauren Simonetti on Hurricane Harvey’s impact on gas prices, Apple and the markets.

FBN’s Lauren Simonetti on Hurricane Harvey’s impact on gas prices, Apple and the markets.

Hurricane Harvey could cause U.S. gasoline prices to rise, with the storm expected to hit a refinery-rich stretch of the Gulf Coast.

The storm may disrupt operations at up to 30 refineries located along the Texas coast.