Full U.S. Tanks May Ease Risk of Fuel Shortages From Harvey - Bloomberg:
"As devastating as the flooding has been for oil refiners in the U.S. Gulf Coast, surplus fuel inventories may help the industry withstand the worst storm to hit the country in more than a decade.
Deluges from Tropical Storm Harvey have turned Houston’s busiest highways into canals of standing water and displaced thousands of people and livestock. The floods also forced shutdowns across a regional energy hub that supplies fuel to millions of Americans from Oklahoma to Florida to New York. As much as 30 percent of U.S. fuel production may come off line temporarily, according to energy investment consultant Tudor, Pickering, Holt & Co.
But even as fuel prices surged and more heavy rain was forecast, gasoline stockpiles in the Gulf Coast are the highest for this time of year in two decades, just as demand is likely to drop, according to Bloomberg Intelligence. The Colonial Pipeline, which supplies about a quarter of the fuel consumed in the East Coast, said service has been interrupted at several locations near its origin point in Houston. Hebert and all other facilities east of Houston are operational, the company said in a statement on its website."
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