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[Matthew Rocco, Fox Business] Harvey flooding leads to shutdown of largest US refinery Motiva PRICE Futures Group’s Phil Flynn on Harvey’s impact on the oil market. Watch the latest video at video.foxbusiness.com Gasoline prices continued to climb nationwide Wednesday, as Hurricane Harvey forced more refineries to shut down and put a critical pipeline in jeopardy. […]

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[Reuters] U.S. natural gas futures rose more than 1 percent after touching a nearly three-week low on Monday as concerns about a tighter market following Tropical Storm Harvey offset any effects from forecasts of lower cooling demand. Front-month gas futures for September delivery on the New York Mercantile Exchange were up 4.3 cents, or 1.5 […]

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Crude oil prices sink while gasoline soars

On August 28, 2017 - 1:54 PM By

[Carl Surran, Seeking Alpha] While Hurricane Harvey sends gasoline futures prices soaring, U.S. crude oil -2.5% at $46.67 in volatile trading as diminished supply is more than offset by the hit to demand for crude by refinery shutdowns. Brent crude’s premium to WTI widened to the largest in two years, trading more than $5 above […]

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[FoxBusiness.com] Hurricane Harvey’s impact on gas prices PRICE Futures Group’s Phil Flynn on the impact of Hurricane Harvey on oil and gas. Watch the latest video at video.foxbusiness.com Oil markets were roiled on Monday after Tropical Storm Harvey wreaked havoc along the U.S. Gulf Coast over the weekend, crippling Houston and its port, and knocking […]

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[Matthew Rocco, Fox Business] Hurricane Harvey’s impact on U.S. oil production could extend beyond offshore platforms and Gulf Coast refineries. Extreme flooding threatens to bring Texas shale activity to a halt, and it may take weeks, if not months, before some shale fields can bounce back. Forecasters are warning residents of life-threatening conditions from Hurricane […]

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[Myra P. Saefong & Sara Sjolin, MarketWatch] Traders weigh impact on refineries, output and demand. Gasoline futures pulled back after touching their highest levels in more than five months on Friday, but still look set for their largest weekly gain in a month, while U.S. oil prices edged up to pare their weekly loss. Hurricane […]

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PRICE Futures Group’s Phil Flynn on the state of the oil market. Watch the latest video at video.foxbusiness.com http://video.foxbusiness.com/v/5549117760001/?#sp=show-clips

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[Reuters via The New York Times] Oil prices fell nearly 2 percent ahead of monthly contract expiration on Monday, pulling back from last week’s rally built on signs the global market is starting to rebalance from chronic oversupply. Brent crude futures <LCOc1> settled down 2 percent, or $1.06 at $51.66 a barrel, while U.S. West […]

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[Platts via S&P Global] NYMEX September gas futures climbed 6.9 cents to $2.962/MMBtu as Monday’s eclipse was projected to boost natural gas demand. The September contract settled at $2.962/MMBtu, up 6.9 cents from Friday’s close. The price increase comes after a week where the NYMEX front-month contract dipped 9 cents over five trading sessions. Phil […]

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Oil retreats after Friday’s market rally

On August 21, 2017 - 12:09 PM By

[Daniel J. Graeber, UPI] Representatives meet Monday in Vienna to review the impact of a multilateral effort to offset supply-side strains that have helped drag oil prices lower. Following Friday’s big rally, crude oil prices turned somewhat lower early Monday as oil officials met in Vienna to discuss the impact of a balancing act. After a […]

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[Brian K Sullivan, Bloomberg] Not one, but three potential storms threaten to usher in the busiest phase of the Atlantic hurricane season later this month, courtesy of warm ocean temperatures. The season — which runs from June to November — has already seen above-average activity this year. Storms with the capacity to cause the most damage […]

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[Daniel J. Graeber, UPI] The amount designated for sale would be about 5 million barrels more than total national daily output. The U.S. Department of Energy said it plans to sell some of the oil from the Strategic Petroleum Reserve, the world’s largest emergency supply of oil. The department’s Office of Fossil Energy said the […]

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