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<div _ngcontent-c20="" innerhtml="<p><em>Update: August 29, 2018 7:30 PM Eastern</em></p> 
<p><em>The Motiva refinery in Port Arthur and the nearby Valero refinery announced that they are shutting down operations due to flooding. &amp;nbsp;It is unclear when they will reopen.</em></p> 
<p><em>Update: August 29, 2018 7:00 PM Eastern</em></p> 
<p><em>U.S. refining capacity is now estimated&amp;nbsp;at only 30%. Additional refineries are closing. The Motiva refinery has limited production to 40%. In addition, the Colonial Pipeline has reported disruptions that will impact the delivery of product to the southeast. Expect&amp;nbsp;gasoline prices to rise and possibly increased prices on other petroleum products. As a result of the refining disruptions, crude oil producers will likely curb production. If they do not, we will likely see further reductions in the price of crude oil as stores pile up because there is no where for it to go.</em></p> 
<p>As we support the residents of Eastern Texas who are persevering through the aftermath of Hurricane Harvey and continued flooding, many are asking what the storm means for that region’s most notable products: crude oil and gasoline. The effect on energy commodities does not compare to the devastation to the lives of millions, but oil and gasoline are integral to modern lives. The analysis is best broken into three parts: crude oil production, transportation and storage of oil and gasoline.</p> 
<p> 
 </p> 
<div id=&quot;attachment_839998386&quot; class=&quot;wp-caption alignnone&quot;> 
 <div class=&quot;article-body-image&quot;> 
  <progressive-image class=&quot;progressive-placeholder&quot; src=&quot;https://thumbor.forbes.com/thumbor/960x0/smart/https%3A%2F%2Fspecials-images.forbesimg.com%2Fimageserve%2F839998386%2F960x0.jpg%3Ffit%3Dscale&quot; low-res-src=&quot;https://thumbor.forbes.com/thumbor/100x0/smart/https%3A%2F%2Fspecials-images.forbesimg.com%2Fimageserve%2F839998386%2F960x0.jpg%3Ffit%3Dscale&quot;></progressive-image> 
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    <p class=&quot;wp-caption-text&quot;>Refineries are seen in the aftermath of Hurricane Harvey August 27, 2017 in Houston, Texas. (BRENDAN SMIALOWSKI/AFP/Getty Images)</p> 
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  </div> 
 </div> 
</div> 
<p><strong>Crude Oil Production</strong></p> 
<p>Hurricane Harvey and the flooding that has followed are probably not major disruptions to crude oil production or supplies. Offshore production in the Gulf of Mexico was <a href=&quot;http://www.nola.com/hurricane/index.ssf/2017/08/hurricane_harvey_oil_and_gas_o.html&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;>interrupted</a> as Harvey passed, but it is already restarting. When this was written, 379,000 barrels per day of crude production remained offline in the Gulf of Mexico, which is 22% of total Gulf production. It is expected to return online shortly. Some companies suspended fracking operations in parts of south Texas. For example, XTO (owned by 
 <fbs-quotecard article-quote-card=&quot;&quot; ticker=&quot;XOM&quot; exchange=&quot;NYSE&quot; type=&quot;organization&quot; natural-id=&quot;fred/company/1530&quot; closing-price=&quot;76.21&quot; current-price=&quot;76.54&quot; link=&quot;/companies/exxon-mobil/&quot; name=&quot;ExxonMobil&quot;> 
  <a href=&quot;/companies/exxon-mobil/&quot; target=&quot;_self&quot; rel=&quot;nofollow&quot;>ExxonMobil</a> 
 </fbs-quotecard>) shut all <a href=&quot;https://www.usnews.com/news/top-news/articles/2017-08-25/xto-energy-shutters-some-eagle-ford-wells-ahead-of-harvey&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;>production</a> in the path of Harvey and evacuated all staff. 
 <fbs-quotecard article-quote-card=&quot;&quot; ticker=&quot;CHK&quot; exchange=&quot;NYSE&quot; type=&quot;organization&quot; natural-id=&quot;fred/company/892&quot; closing-price=&quot;2.86&quot; current-price=&quot;2.73&quot; link=&quot;/companies/chesapeake-energy/&quot; name=&quot;Chesapeake Energy&quot;> 
  <a href=&quot;/companies/chesapeake-energy/&quot; target=&quot;_self&quot; rel=&quot;nofollow&quot;>Chesapeake Energy</a> 
 </fbs-quotecard> is <a href=&quot;https://twitter.com/ErnestScheyder/status/902203481255227392&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;>cutting back</a> on crude oil production until refineries in Houston and the Gulf Coast come back online.</p> 
<div class=&quot;vestpocket&quot; vest-pocket=&quot;&quot;></div> 
<p>Even in the short term, <span class=&quot;tweet_quote&quot;> <a href=&quot;https://twitter.com/intent/tweet?url=http%3A%2F%2Fwww.forbes.com%2Fsites%2Fellenrwald%2F2017%2F08%2F28%2Fhurricane-harvey-impacts-crude-oil-and-gasoline-what-you-need-to-know%2F&amp;amp;text=suspension%20of%20some%20fracking%20activities%20will%20have%20an%20impact%20on%20global%20crude%20oil%20stocks&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;>suspension of some fracking activities will have an impact on global crude oil stocks<span></span></a></span> . However, there was such a large oversupply and high levels of storage before the storm that there are no fears of crude shortages. OPEC will eagerly await any impact, no matter how small, hoping it pushes prices up. However, as of noon on Monday, WTI prices were actually <a href=&quot;http://www.marketwatch.com/story/us-gas-futures-surge-after-storm-harvey-hits-texas-wti-crude-prices-fall-2017-08-28&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;>down</a> over 3%. Much of the gossip in the oil-trading world is reminding investors that crude price impacts are historically limited following such storms.</p> 
<p><strong>Transportation And Storage</strong></p> 
<p>Shipping channels and ports in Eastern Texas have been disrupted. The Houston shipping channel was <a href=&quot;http://www.fox10tv.com/story/27807326/ships-backed-up-in-texas-shipping-channel-closure&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;>shut down</a> and <a href=&quot;https://www.reuters.com/article/us-storm-harvey-corpuschristiport-idUSKCN1B50BH&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;>ports</a> at Corpus Christi and Galveston were also closed due to the hurricane. Tankers are waiting in the Gulf of Mexico. At this time, neither crude nor petroleum products are coming or going from Eastern Texas. However, <a href=&quot;http://www.reuters.com/article/us-storm-harvey-energy-idUSKCN1B70YQ&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;>imports</a> and exports of crude oil, oil products, and liquefied natural gas are all leaving and entering ports in Louisiana normally.</p> 
<div id=&quot;attachment_34810842&quot; class=&quot;wp-caption alignright&quot;> 
 <div class=&quot;article-body-image&quot;> 
  <progressive-image class=&quot;progressive-placeholder&quot; src=&quot;https://thumbor.forbes.com/thumbor/960x0/smart/https%3A%2F%2Fspecials-images.forbesimg.com%2Fimageserve%2F34810842%2F960x0.jpg%3Ffit%3Dscale&quot; low-res-src=&quot;https://thumbor.forbes.com/thumbor/100x0/smart/https%3A%2F%2Fspecials-images.forbesimg.com%2Fimageserve%2F34810842%2F960x0.jpg%3Ffit%3Dscale&quot;></progressive-image> 
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    <p class=&quot;wp-caption-text&quot;>A storage tank is seen at the ExxonMobil oil refinery along the Houston Ship Channel in Houston, Texas. ( Carlos Javier Sanchez/ Bloomberg News)</p> 
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<p>The impact of flooding on some ports may be serious. Some have been <a href=&quot;https://www.platts.com/latest-news/oil/newyork/factbox-refineries-now-facing-brunt-of-harvey-21762771&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;>filled with silt</a> that builds up from the influx of water. This is called “shoaling,” and it will require cleanup and maybe repairs. There will likely be a disruption of normal import and export patterns, but it is impossible to know how much until the damage is assessed. However, unlike after other Gulf hurricanes, there is no expectation of a shortage of crude oil because there is so much excessive oil already in storage. The problem, in this case, is ensuring that active refineries can access crude oil. The U.S. government has indicated that it is not planning to release oil from the Strategic Petroleum Reserve though it is prepared to if <a href=&quot;https://www.wsj.com/articles/gasoline-prices-surge-after-hurricane-harvey-1503911874&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;>conditions</a> make it necessary.</p>"><p class="speakable-paragraph"><em>Update: August 29, 2018 7:30 PM Eastern</em></p> 
<p><em>The Motiva refinery in Port Arthur and the nearby Valero refinery announced that they are shutting down operations due to flooding. &nbsp;It is unclear when they will reopen.</em></p> 
<p><em>Update: August 29, 2018 7:00 PM Eastern</em></p> 
<p><em>U.S. refining capacity is now estimated&nbsp;at only 30%. Additional refineries are closing. The Motiva refinery has limited production to 40%. In addition, the Colonial Pipeline has reported disruptions that will impact the delivery of product to the southeast. Expect&nbsp;gasoline prices to rise and possibly increased prices on other petroleum products. As a result of the refining disruptions, crude oil producers will likely curb production. If they do not, we will likely see further reductions in the price of crude oil as stores pile up because there is no where for it to go.</em></p> 
<p>As we support the residents of Eastern Texas who are persevering through the aftermath of Hurricane Harvey and continued flooding, many are asking what the storm means for that region’s most notable products: crude oil and gasoline. The effect on energy commodities does not compare to the devastation to the lives of millions, but oil and gasoline are integral to modern lives. The analysis is best broken into three parts: crude oil production, transportation and storage of oil and gasoline.</p> 
<p> 
 </p> 
<div id="attachment_839998386" class="wp-caption alignnone"> 
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  <progressive-image class="progressive-placeholder" src="https://thumbor.forbes.com/thumbor/960x0/smart/https%3A%2F%2Fspecials-images.forbesimg.com%2Fimageserve%2F839998386%2F960x0.jpg%3Ffit%3Dscale" low-res-src="https://thumbor.forbes.com/thumbor/100x0/smart/https%3A%2F%2Fspecials-images.forbesimg.com%2Fimageserve%2F839998386%2F960x0.jpg%3Ffit%3Dscale"></progressive-image> 
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    <p class="wp-caption-text">Refineries are seen in the aftermath of Hurricane Harvey August 27, 2017 in Houston, Texas. (BRENDAN SMIALOWSKI/AFP/Getty Images)</p> 
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<p><strong>Crude Oil Production</strong></p> 
<p>Hurricane Harvey and the flooding that has followed are probably not major disruptions to crude oil production or supplies. Offshore production in the Gulf of Mexico was <a href="http://www.nola.com/hurricane/index.ssf/2017/08/hurricane_harvey_oil_and_gas_o.html" target="_blank" rel="nofollow">interrupted</a> as Harvey passed, but it is already restarting. When this was written, 379,000 barrels per day of crude production remained offline in the Gulf of Mexico, which is 22% of total Gulf production. It is expected to return online shortly. Some companies suspended fracking operations in parts of south Texas. For example, XTO (owned by 
 <fbs-quotecard article-quote-card="" ticker="XOM" exchange="NYSE" type="organization" natural-id="fred/company/1530" closing-price="76.21" current-price="76.54" link="/companies/exxon-mobil/" name="ExxonMobil"> 
  <a href="/companies/exxon-mobil/" target="_self" rel="nofollow">ExxonMobil</a> 
 </fbs-quotecard>) shut all <a href="https://www.usnews.com/news/top-news/articles/2017-08-25/xto-energy-shutters-some-eagle-ford-wells-ahead-of-harvey" target="_blank" rel="nofollow">production</a> in the path of Harvey and evacuated all staff. 
 <fbs-quotecard article-quote-card="" ticker="CHK" exchange="NYSE" type="organization" natural-id="fred/company/892" closing-price="2.86" current-price="2.73" link="/companies/chesapeake-energy/" name="Chesapeake Energy"> 
  <a href="/companies/chesapeake-energy/" target="_self" rel="nofollow">Chesapeake Energy</a> 
 </fbs-quotecard> is <a href="https://twitter.com/ErnestScheyder/status/902203481255227392" target="_blank" rel="nofollow">cutting back</a> on crude oil production until refineries in Houston and the Gulf Coast come back online.</p> 
<div class="vestpocket" vest-pocket=""></div> 
<p>Even in the short term, <span class="tweet_quote"> <a href="https://twitter.com/intent/tweet?url=http%3A%2F%2Fwww.forbes.com%2Fsites%2Fellenrwald%2F2017%2F08%2F28%2Fhurricane-harvey-impacts-crude-oil-and-gasoline-what-you-need-to-know%2F&amp;text=suspension%20of%20some%20fracking%20activities%20will%20have%20an%20impact%20on%20global%20crude%20oil%20stocks" target="_blank" rel="nofollow">suspension of some fracking activities will have an impact on global crude oil stocks<span></span></a></span> . However, there was such a large oversupply and high levels of storage before the storm that there are no fears of crude shortages. OPEC will eagerly await any impact, no matter how small, hoping it pushes prices up. However, as of noon on Monday, WTI prices were actually <a href="http://www.marketwatch.com/story/us-gas-futures-surge-after-storm-harvey-hits-texas-wti-crude-prices-fall-2017-08-28" target="_blank" rel="nofollow">down</a> over 3%. Much of the gossip in the oil-trading world is reminding investors that crude price impacts are historically limited following such storms.</p> 
<p><strong>Transportation And Storage</strong></p> 
<p>Shipping channels and ports in Eastern Texas have been disrupted. The Houston shipping channel was <a href="http://www.fox10tv.com/story/27807326/ships-backed-up-in-texas-shipping-channel-closure" target="_blank" rel="nofollow">shut down</a> and <a href="https://www.reuters.com/article/us-storm-harvey-corpuschristiport-idUSKCN1B50BH" target="_blank" rel="nofollow">ports</a> at Corpus Christi and Galveston were also closed due to the hurricane. Tankers are waiting in the Gulf of Mexico. At this time, neither crude nor petroleum products are coming or going from Eastern Texas. However, <a href="http://www.reuters.com/article/us-storm-harvey-energy-idUSKCN1B70YQ" target="_blank" rel="nofollow">imports</a> and exports of crude oil, oil products, and liquefied natural gas are all leaving and entering ports in Louisiana normally.</p> 
<div id="attachment_34810842" class="wp-caption alignright"> 
 <div class="article-body-image"> 
  <progressive-image class="progressive-placeholder" src="https://thumbor.forbes.com/thumbor/960x0/smart/https%3A%2F%2Fspecials-images.forbesimg.com%2Fimageserve%2F34810842%2F960x0.jpg%3Ffit%3Dscale" low-res-src="https://thumbor.forbes.com/thumbor/100x0/smart/https%3A%2F%2Fspecials-images.forbesimg.com%2Fimageserve%2F34810842%2F960x0.jpg%3Ffit%3Dscale"></progressive-image> 
 </div> 
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    <p class="wp-caption-text">A storage tank is seen at the ExxonMobil oil refinery along the Houston Ship Channel in Houston, Texas. ( Carlos Javier Sanchez/ Bloomberg News)</p> 
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  </div> 
 </div> 
</div> 
<p>The impact of flooding on some ports may be serious. Some have been <a href="https://www.platts.com/latest-news/oil/newyork/factbox-refineries-now-facing-brunt-of-harvey-21762771" target="_blank" rel="nofollow">filled with silt</a> that builds up from the influx of water. This is called “shoaling,” and it will require cleanup and maybe repairs. There will likely be a disruption of normal import and export patterns, but it is impossible to know how much until the damage is assessed. However, unlike after other Gulf hurricanes, there is no expectation of a shortage of crude oil because there is so much excessive oil already in storage. The problem, in this case, is ensuring that active refineries can access crude oil. The U.S. government has indicated that it is not planning to release oil from the Strategic Petroleum Reserve though it is prepared to if <a href="https://www.wsj.com/articles/gasoline-prices-surge-after-hurricane-harvey-1503911874" target="_blank" rel="nofollow">conditions</a> make it necessary.</p></div>
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	</app-root><script id="ng-templates-state" type="application/json">{&q;environmentName&q;:&q;prod&q;,&q;is_mobile&q;:false,&q;/forbesapi/content/uri.json?shortcodes=true&a;slides=true&a;type=ng&a;tickers=true&a;bvallpages=true&a;autovpslider=true&a;stream=true&a;compressimages=true&a;mobile=false&a;prgsmobileads=false&a;relativeVideo=true&a;videoplayertype=brightcove_perform_with_keyvalues&a;swimlane=&a;uri=http://www.forbes.com/sites/ellenrwald/2017/08/28/hurricane-harvey-impacts-crude-oil-and-gasoline-what-you-need-to-know/&q;:{&q;content&q;:{&q;id&q;:&q;content_59a44e4564aaf9435aebc80e&q;,&q;naturalId&q;:&q;blogAndPostId/blog/post/4357-1020&q;,&q;source&q;:&q;blogs&q;,&q;author&q;:&q;Ellen R. Wald&q;,&q;title&q;:&q;Hurricane Harvey Impacts Crude Oil And Gasoline: What You Need To Know&q;,&q;date&q;:1503942840000,&q;body&q;:&q;&l;em&g;Update: August 29, 2018 7:30 PM Eastern&l;/em&g;\r\n\r\n&l;em&g;The Motiva refinery in Port Arthur and the nearby Valero refinery announced that they are shutting down operations due to flooding. &a;nbsp;It is unclear when they will reopen.&l;/em&g;\r\n\r\n&l;em&g;Update: August 29, 2018 7:00 PM Eastern&l;/em&g;\r\n\r\n&l;em&g;U.S. refining capacity is now estimated&a;nbsp;at only 30%. Additional refineries are closing. The Motiva refinery has limited production to 40%. In addition, the Colonial Pipeline has reported disruptions that will impact the delivery of product to the southeast. Expect&a;nbsp;gasoline prices to rise and possibly increased prices on other petroleum products. As a result of the refining disruptions, crude oil producers will likely curb production. If they do not, we will likely see further reductions in the price of crude oil as stores pile up because there is no where for it to go.&l;/em&g;\r\n\r\nAs we support the residents of Eastern Texas who are persevering through the aftermath of Hurricane Harvey and continued flooding, many are asking what the storm means for that region&a;rsquo;s most notable products: crude oil and gasoline. The effect on energy commodities does not compare to the devastation to the lives of millions, but oil and gasoline are integral to modern lives. The analysis is best broken into three parts: crude oil production, transportation and storage of oil and gasoline.\r\n\r\n[caption id=\&q;attachment_839998386\&q; photocredit=\&q;\&q;  align=\&q;\&q; width=\&q;960\&q;]&l;img class=\&q;dam-image getty size-large wp-image-839998386\&q; src=\&q;https://specials-images.forbesimg.com/imageserve/839998386/960x0.jpg?fit=scale\&q; data-height=\&q;639\&q; data-width=\&q;960\&q;&g; Refineries are seen in the aftermath of Hurricane Harvey August 27, 2017 in Houston, Texas. (BRENDAN SMIALOWSKI/AFP/Getty Images)[/caption]\r\n\r\n&l;strong&g;Crude Oil Production&l;/strong&g;\r\n\r\nHurricane Harvey and the flooding that has followed are probably not major disruptions to crude oil production or supplies. Offshore production in the Gulf of Mexico was &l;a href=\&q;http://www.nola.com/hurricane/index.ssf/2017/08/hurricane_harvey_oil_and_gas_o.html\&q; target=\&q;_blank\&q;&g;interrupted&l;/a&g; as Harvey passed, but it is already restarting. When this was written, 379,000 barrels per day of crude production remained offline in the Gulf of Mexico, which is 22% of total Gulf production. It is expected to return online shortly. Some companies suspended fracking operations in parts of south Texas. For example, XTO (owned by [entity display=\&q;ExxonMobil\&q; type=\&q;organization\&q; subtype=\&q;company\&q; active=\&q;true\&q; activated=\&q;true\&q; deactivated=\&q;false\&q; key=\&q;exxon-mobil\&q; ticker=\&q;XOM\&q; exchange=\&q;NYSE\&q; natural_id=\&q;fred/company/1530\&q;]ExxonMobil[/entity]) shut all &l;a href=\&q;https://www.usnews.com/news/top-news/articles/2017-08-25/xto-energy-shutters-some-eagle-ford-wells-ahead-of-harvey\&q; target=\&q;_blank\&q;&g;production&l;/a&g; in the path of Harvey and evacuated all staff. [entity display=\&q;Chesapeake Energy\&q; type=\&q;organization\&q; subtype=\&q;company\&q; active=\&q;true\&q; activated=\&q;true\&q; deactivated=\&q;false\&q; key=\&q;chesapeake-energy\&q; ticker=\&q;CHK\&q; exchange=\&q;NYSE\&q; natural_id=\&q;fred/company/892\&q;]Chesapeake Energy[/entity] is &l;a href=\&q;https://twitter.com/ErnestScheyder/status/902203481255227392\&q; target=\&q;_blank\&q;&g;cutting back&l;/a&g; on crude oil production until refineries in Houston and the Gulf Coast come back online.\r\n\r\nEven in the short term, [tweet_quote display=\&q;suspension of some fracking activities will have an impact on global crude oil stocks\&q;]suspension of some fracking activities will have an impact on global crude oil stocks[/tweet_quote] . However, there was such a large oversupply and high levels of storage before the storm that there are no fears of crude shortages. OPEC will eagerly await any impact, no matter how small, hoping it pushes prices up. However, as of noon on Monday, WTI prices were actually &l;a href=\&q;http://www.marketwatch.com/story/us-gas-futures-surge-after-storm-harvey-hits-texas-wti-crude-prices-fall-2017-08-28\&q; target=\&q;_blank\&q;&g;down&l;/a&g; over 3%. Much of the gossip in the oil-trading world is reminding investors that crude price impacts are historically limited following such storms.\r\n\r\n&l;strong&g;Transportation And Storage&l;/strong&g;\r\n\r\nShipping channels and ports in Eastern Texas have been disrupted. The Houston shipping channel was &l;a href=\&q;http://www.fox10tv.com/story/27807326/ships-backed-up-in-texas-shipping-channel-closure\&q; target=\&q;_blank\&q;&g;shut down&l;/a&g; and &l;a href=\&q;https://www.reuters.com/article/us-storm-harvey-corpuschristiport-idUSKCN1B50BH\&q; target=\&q;_blank\&q;&g;ports&l;/a&g; at Corpus Christi and Galveston were also closed due to the hurricane. Tankers are waiting in the Gulf of Mexico. At this time, neither crude nor petroleum products are coming or going from Eastern Texas. However, &l;a href=\&q;http://www.reuters.com/article/us-storm-harvey-energy-idUSKCN1B70YQ\&q; target=\&q;_blank\&q;&g;imports&l;/a&g; and exports of crude oil, oil products, and liquefied natural gas are all leaving and entering ports in Louisiana normally.\r\n\r\n[caption id=\&q;attachment_34810842\&q; photocredit=\&q;\&q;  align=\&q;alignright\&q; width=\&q;960\&q;]&l;img class=\&q;dam-image bloomberg size-large wp-image-34810842\&q; src=\&q;https://specials-images.forbesimg.com/imageserve/34810842/960x0.jpg?fit=scale\&q; data-height=\&q;613\&q; data-width=\&q;960\&q;&g; A storage tank is seen at the ExxonMobil oil refinery along the Houston Ship Channel in Houston, Texas. ( Carlos Javier Sanchez/ Bloomberg News)[/caption]\r\n\r\nThe impact of flooding on some ports may be serious. Some have been &l;a href=\&q;https://www.platts.com/latest-news/oil/newyork/factbox-refineries-now-facing-brunt-of-harvey-21762771\&q; target=\&q;_blank\&q;&g;filled with silt&l;/a&g; that builds up from the influx of water. This is called &a;ldquo;shoaling,&a;rdquo; and it will require cleanup and maybe repairs. There will likely be a disruption of normal import and export patterns, but it is impossible to know how much until the damage is assessed. However, unlike after other Gulf hurricanes, there is no expectation of a shortage of crude oil because there is so much excessive oil already in storage. The problem, in this case, is ensuring that active refineries can access crude oil. The U.S. government has indicated that it is not planning to release oil from the Strategic Petroleum Reserve though it is prepared to if &l;a href=\&q;https://www.wsj.com/articles/gasoline-prices-surge-after-hurricane-harvey-1503911874\&q; target=\&q;_blank\&q;&g;conditions&l;/a&g; make it necessary.\r\n&l;!--nextpage--&g;&l;strong&g;Gasoline&l;/strong&g;\r\nGasoline prices will likely see the greatest impact from the storm in the energy industry. Sunday night &l;a href=\&q;https://www.google.com/url?sa=t&a;amp;rct=j&a;amp;q=&a;amp;esrc=s&a;amp;source=web&a;amp;cd=4&a;amp;cad=rja&a;amp;uact=8&a;amp;ved=0ahUKEwjUh6_GsvrVAhUorFQKHVftAPMQFgg6MAM&a;amp;url=https%3A%2F%2Fwww.cnbc.com%2F2017%2F08%2F27%2Fgasoline-futures-rise-as-much-as-6-percent.html&a;amp;usg=AFQjCNHJXPvrZlez0rtL2V7HSZga_YmyAg\&q; target=\&q;_blank\&q;&g;gasoline futures&l;/a&g; rose almost 7%. 2.2 million barrels per day of refining capacity in Texas have been shut or greatly reduced as a result of Harvey. Among the facilities disrupted is the &l;a href=\&q;https://www.reuters.com/article/us-storm-harvey-energy-idUSKCN1B70YQ?utm_source=twitter&a;amp;utm_medium=Social\&q; target=\&q;_blank\&q;&g;second largest&l;/a&g; refinery in the U.S. (an ExxonMobil-owned operation in Baytown, TX that refines 560,500 barrels per day). The industry expects some of these refining operations to be closed or at least disrupted for at least a week. However, good news is that along the Texas-Louisiana border the largest refinery in the U.S. (Aramco-owned Motiva which refines 600,000 barrels per day) is operating fully, at least for the time being. There are some &l;a href=\&q;https://twitter.com/Devikakrishnak/status/902199231104126976\&q; target=\&q;_blank\&q;&g;reports&l;/a&g; that Motiva is considering a shut down depending on Harvey&a;rsquo;s path. Citgo is also planning to &l;a href=\&q;https://twitter.com/staunovo/status/902212966107553793\&q; target=\&q;_blank\&q;&g;restart operations&l;/a&g; at its Corpus Christi refinery on Thursday.\r\n\r\n[caption id=\&q;attachment_41507383\&q; photocredit=\&q;\&q;  align=\&q;alignleft\&q; width=\&q;960\&q;]&l;img class=\&q;dam-image bloomberg size-large wp-image-41507383\&q; src=\&q;https://specials-images.forbesimg.com/imageserve/41507383/960x0.jpg?fit=scale\&q; data-height=\&q;640\&q; data-width=\&q;960\&q;&g; Customers fuel vehicles at a Sunoco LP gas station ahead of Hurricane Harvey in Texas City, Texas, U.S., on Friday, Aug. 25, 2017. The price of gasoline rallied as the hurricane&a;nbsp;threatened to wreak havoc on the heart of America&s;s energy sector. (F. Carter Smith/Bloomberg)[/caption]\r\n\r\nRecent EIA have shown &l;a href=\&q;https://finance.yahoo.com/news/oil-prices-slip-api-reports-205200977.html\&q; target=\&q;_blank\&q;&g;gasoline&l;/a&g; builds, so there was already a backlog of gasoline in the system to compensate for some loss of refining. Nevertheless, prices are expected to rise. There was also concern before the storm that pipeline closures could disrupt supplies in other parts of the U.S. and some pipelines that supply crude and condensate to refineries in Texas are closed. However, the main concern for consumers in the eastern U.S. was the Colonial Pipeline. This pipeline supplies gasoline and other products to key area. If the Colonial Pipeline were to be disrupted, gasoline prices in the Southeast would spike as they did during other recent disruptions, but the pipeline appears to be &l;a href=\&q;https://twitter.com/catkngai/status/902173044239675393\&q; target=\&q;_blank\&q;&g;operating&l;/a&g; normally.\r\n\r\nThe refining disruptions in Texas should take us right into the Labor Day weekend when many Americans are on the road and buying gasoline. Typically, gasoline prices rise in September as refineries slow for scheduled changes to winter blends. Harvey and the flooding that has followed may exacerbate the gasoline price jump for a while, but the higher prices will pass before long.\r\n&l;p class=\&q;tweet_line\&q;&g;[tweet_quote display=\&q;As we pay more at the pump perhaps we will think of those who are rebuilding in Texas and remember to help as we can\&q;]As we pay more at the pump, perhaps we will think of those who are rebuilding in Houston, Rockport and Corpus Christi and remember to help as we can.[/tweet_quote]&l;/p&g;\r\n&a;nbsp;&q;,&q;description&q;:&q;Hurricane Harvey&s;s effects on energy markets will mostly likely be felt with rising gasoline prices but oil production and transportation could take a hit.&q;,&q;image&q;:&q;https://specials-images.forbesimg.com/imageserve/839998386/960x0.jpg?fit=scale&q;,&q;type&q;:&q;blog&q;,&q;storyType&q;:&q;post&q;,&q;uri&q;:&q;http://www.forbes.com/sites/ellenrwald/2017/08/28/hurricane-harvey-impacts-crude-oil-and-gasoline-what-you-need-to-know/&q;,&q;comments&q;:[],&q;visible&q;:true,&q;authors&q;:[{&q;naturalId&q;:&q;blogAuthorId/blog/author/2008680&q;,&q;name&q;:&q;Ellen R. Wald&q;,&q;avatars&q;:[{&q;size&q;:400,&q;image&q;:&q;https://blogs-images.forbes.com/ellenrwald/files/2016/04/Ellen-R.-Wald_avatar_1459958656.png&q;},{&q;size&q;:136,&q;image&q;:&q;https://blogs-images.forbes.com/ellenrwald/files/2016/04/Ellen-R.-Wald_avatar_1459958656-136x136.png&q;},{&q;size&q;:62,&q;image&q;:&q;https://blogs-images.forbes.com/ellenrwald/files/2016/04/Ellen-R.-Wald_avatar_1459958656-62x62.png&q;},{&q;size&q;:40,&q;image&q;:&q;https://blogs-images.forbes.com/ellenrwald/files/2016/04/Ellen-R.-Wald_avatar_1459958656-40x40.png&q;}],&q;url&q;:&q;http://www.forbes.com/sites/ellenrwald/&q;,&q;type&q;:&q;Contributor&q;,&q;profileUrl&q;:&q;/sites/ellenrwald/&q;,&q;twitterName&q;:&q;EnergzdEconomy&q;,&q;authorType&q;:&q;individual&q;,&q;linkedIn&q;:&q;https://www.linkedin.com/in/ellen-r-wald-ph-d-ba361498&q;,&q;email&q;:&q;ellenrwald@gmail.com&q;,&q;blog&q;:false,&q;timestamp&q;:1508122197968,&q;amazon&q;:&q;https://www.amazon.com/Saudi-Inc-Arabian-Kingdoms-Pursuit/dp/168177660X&q;,&q;webSite&q;:&q;http://www.ellenrwald.com&q;,&q;blogName&q;:&q;Ellen R. Wald&q;,&q;topics&q;:[&q;commodities-currencies&q;,&q;business&q;,&q;international&q;],&q;description&q;:&q;I’m an energy historian writing about how governments and energy businesses interact globally.  My work looks at how policy, wars, diplomacy, the stock market, oil pricing, and innovation impact the future of energy.  I am a non-resident scholar at the Arabia Foundation, an independent think tank in D.C., consult for financial and PR firms, write a column for investing.com, teach Middle East history and policy at Jacksonville University, and root for the New York Giants.  I’ve been featured in BBC History Magazine as an expert on oil pricing and held the Majewski Fellowship in Economic Geology at the American Heritage Center and have held academic appointments at Boston University, University of Georgia, and Cambridge U.  My book, Saudi, Inc., will be published (Pegasus Books) will be published in 2018 in anticipation of the Aramco IPO.  Contact me at www.ellenrwald.com.&q;,&q;primaryBlogNaturalId&q;:&q;blogAuthorId/blog/author/blog-4357&q;,&q;shortUri&q;:&q;http://onforb.es/23eMNTz&q;,&q;displayChannel&q;:&q;investing&q;,&q;contributorSince&q;:1459907930000,&q;slug&q;:&q;ellenrwald&q;,&q;showNoVestPocket&q;:false,&q;embargo&q;:false,&q;primaryChannelId&q;:&q;channel_2&q;,&q;enableContribContact&q;:true,&q;sigfile&q;:&q;&l;em&g;Ellen R. Wald, Ph.D. is a historian &a; consultant on geopolitics &a; energy. She is a Non-Resident Scholar at the Arabia Foundation. Her book,&l;a href=\&q;https://www.amazon.com/Saudi-Inc-Arabian-Kingdoms-Pursuit/dp/168177660X\&q; target=\&q;_blank\&q; rel=\&q;noopener noreferrer\&q;&g; Saudi, Inc.&l;/a&g;, will be published in 2018.&l;/em&g;&q;,&q;enableTwitterFeed&q;:false,&q;disableCanonical&q;:false,&q;disableDigest&q;:false,&q;forbesTwitterProfile&q;:{&q;screenName&q;:&q;EnergzdEconomy&q;,&q;name&q;:&q;Ellen R Wald Ph.D.🛢&q;,&q;profileImageUrl&q;:&q;http://pbs.twimg.com/profile_images/803072685941067776/W-f9ZiEg.jpg&q;,&q;description&q;:&q;Energy, geopolitics, NYGiants. Consultant, non-resident scholar @ArabiaFdn, columnist, Adjunct prof MidEast history. views my own. https://t.co/ULdaMXiARI&q;,&q;createdDate&q;:1362527614000,&q;location&q;:&q;&q;,&q;url&q;:&q;https://t.co/91DCoEPntQ&q;,&q;expandedUrl&q;:&q;http://www.ellenrwald.com&q;,&q;displayUrl&q;:&q;ellenrwald.com&q;,&q;verified&q;:false},&q;inactive&q;:true,&q;primaryChannel&q;:{&q;id&q;:&q;channel_2&q;,&q;channelId&q;:&q;channel_2&q;,&q;channelName&q;:&q;Investing&q;,&q;url&q;:&q;/investing&q;,&q;shortName&q;:&q;Investing&q;},&q;division&q;:&q;FC&q;,&q;allowEmail&q;:false,&q;avatar_map&q;:{}},{&q;naturalId&q;:&q;blogAuthorId/blog/author/blog-4357&q;,&q;name&q;:&q;Ellen R. 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Wald&q;,&q;avatars&q;:[{&q;size&q;:136,&q;image&q;:&q;http://blogs-images.forbes.com/ellenrwald/files/2016/04/Ellen-R.-Wald_avatar_1459958656-136x136.png&q;},{&q;size&q;:40,&q;image&q;:&q;http://blogs-images.forbes.com/ellenrwald/files/2016/04/Ellen-R.-Wald_avatar_1459958656-40x40.png&q;},{&q;size&q;:400,&q;image&q;:&q;http://blogs-images.forbes.com/ellenrwald/files/2016/04/Ellen-R.-Wald_avatar_1459958656.png&q;},{&q;size&q;:62,&q;image&q;:&q;http://blogs-images.forbes.com/ellenrwald/files/2016/04/Ellen-R.-Wald_avatar_1459958656-62x62.png&q;}],&q;blog&q;:false,&q;shortBio&q;:&q;I cover energy and geopolitics with a Middle East and US focus.&q;,&q;description&q;:&q;I’m an energy historian writing about how governments and energy businesses interact globally.  My work looks at how policy, wars, diplomacy, the stock market, oil pricing, and innovation impact the future of energy.  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Contact me at www.ellenrwald.com.&q;,&q;allowEmail&q;:false},&q;shortUri&q;:&q;http://onforb.es/23eMNTz&q;,&q;displayChannel&q;:&q;investing&q;,&q;contributorSince&q;:1459893720000,&q;slug&q;:&q;ellenrwald&q;,&q;showNoVestPocket&q;:false,&q;embargo&q;:false,&q;primaryChannelId&q;:&q;channel_2&q;,&q;enableContribContact&q;:false,&q;enableTwitterFeed&q;:true,&q;disableCanonical&q;:false,&q;disableDigest&q;:false,&q;forbesTwitterProfile&q;:{&q;screenName&q;:&q;EnergzdEconomy&q;,&q;name&q;:&q;Ellen R Wald Ph.D.🛢&q;,&q;profileImageUrl&q;:&q;http://pbs.twimg.com/profile_images/803072685941067776/W-f9ZiEg.jpg&q;,&q;description&q;:&q;Energy, geopolitics, NYGiants. 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Additional refineries are closing. The Motiva refinery has limited production to 40%. In addition, the Colonial Pipeline has reported disruptions that will impact the delivery of product to the southeast. Expect&a;nbsp;gasoline prices to rise and possibly increased prices on other petroleum products. As a result of the refining disruptions, crude oil producers will likely curb production. If they do not, we will likely see further reductions in the price of crude oil as stores pile up because there is no where for it to go.&l;/em&g;&l;/p&g; \n&l;p&g;As we support the residents of Eastern Texas who are persevering through the aftermath of Hurricane Harvey and continued flooding, many are asking what the storm means for that region’s most notable products: crude oil and gasoline. The effect on energy commodities does not compare to the devastation to the lives of millions, but oil and gasoline are integral to modern lives. The analysis is best broken into three parts: crude oil production, transportation and storage of oil and gasoline.&l;/p&g; \n&l;p&g; \n &l;fbs-ad position=\&q;inread\&q; progressive=\&q;\&q;&g;&l;/fbs-ad&g;&l;/p&g; \n&l;div id=\&q;attachment_839998386\&q; class=\&q;wp-caption alignnone\&q;&g; \n &l;div class=\&q;article-body-image\&q;&g; \n  &l;img class=\&q;dam-image getty size-large wp-image-839998386\&q; src=\&q;https://specials-images.forbesimg.com/imageserve/839998386/960x0.jpg?fit=scale\&q; data-height=\&q;639\&q; data-width=\&q;960\&q; /&g; \n &l;/div&g; \n &l;div article-image-caption=\&q;\&q;&g; \n  &l;div class=\&q;caption-container\&q; ng-class=\&q;caption_state\&q;&g; \n   &l;fbs-accordion current=\&q;0\&q;&g; \n    &l;p class=\&q;wp-caption-text\&q;&g;Refineries are seen in the aftermath of Hurricane Harvey August 27, 2017 in Houston, Texas. (BRENDAN SMIALOWSKI/AFP/Getty Images)&l;/p&g; \n   &l;/fbs-accordion&g; \n  &l;/div&g; \n &l;/div&g; \n&l;/div&g; \n&l;p&g;&l;strong&g;Crude Oil Production&l;/strong&g;&l;/p&g; \n&l;p&g;Hurricane Harvey and the flooding that has followed are probably not major disruptions to crude oil production or supplies. Offshore production in the Gulf of Mexico was &l;a href=\&q;http://www.nola.com/hurricane/index.ssf/2017/08/hurricane_harvey_oil_and_gas_o.html\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;interrupted&l;/a&g; as Harvey passed, but it is already restarting. When this was written, 379,000 barrels per day of crude production remained offline in the Gulf of Mexico, which is 22% of total Gulf production. It is expected to return online shortly. Some companies suspended fracking operations in parts of south Texas. For example, XTO (owned by \n &l;fbs-quotecard article-quote-card=\&q;\&q; ticker=\&q;XOM\&q; exchange=\&q;NYSE\&q; type=\&q;organization\&q; natural-id=\&q;fred/company/1530\&q; closing-price=\&q;76.21\&q; current-price=\&q;76.54\&q; link=\&q;/companies/exxon-mobil/\&q; name=\&q;ExxonMobil\&q;&g; \n  &l;a href=\&q;/companies/exxon-mobil/\&q; target=\&q;_self\&q; rel=\&q;nofollow\&q;&g;ExxonMobil&l;/a&g; \n &l;/fbs-quotecard&g;) shut all &l;a href=\&q;https://www.usnews.com/news/top-news/articles/2017-08-25/xto-energy-shutters-some-eagle-ford-wells-ahead-of-harvey\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;production&l;/a&g; in the path of Harvey and evacuated all staff. \n &l;fbs-quotecard article-quote-card=\&q;\&q; ticker=\&q;CHK\&q; exchange=\&q;NYSE\&q; type=\&q;organization\&q; natural-id=\&q;fred/company/892\&q; closing-price=\&q;2.86\&q; current-price=\&q;2.73\&q; link=\&q;/companies/chesapeake-energy/\&q; name=\&q;Chesapeake Energy\&q;&g; \n  &l;a href=\&q;/companies/chesapeake-energy/\&q; target=\&q;_self\&q; rel=\&q;nofollow\&q;&g;Chesapeake Energy&l;/a&g; \n &l;/fbs-quotecard&g; is &l;a href=\&q;https://twitter.com/ErnestScheyder/status/902203481255227392\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;cutting back&l;/a&g; on crude oil production until refineries in Houston and the Gulf Coast come back online.&l;/p&g; \n&l;div class=\&q;vestpocket\&q; vest-pocket=\&q;\&q;&g;&l;/div&g; \n&l;p&g;Even in the short term, &l;span class=\&q;tweet_quote\&q;&g; &l;a href=\&q;https://twitter.com/intent/tweet?url=http%3A%2F%2Fwww.forbes.com%2Fsites%2Fellenrwald%2F2017%2F08%2F28%2Fhurricane-harvey-impacts-crude-oil-and-gasoline-what-you-need-to-know%2F&a;amp;text=suspension%20of%20some%20fracking%20activities%20will%20have%20an%20impact%20on%20global%20crude%20oil%20stocks\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;suspension of some fracking activities will have an impact on global crude oil stocks&l;span&g;&l;/span&g;&l;/a&g;&l;/span&g; . However, there was such a large oversupply and high levels of storage before the storm that there are no fears of crude shortages. OPEC will eagerly await any impact, no matter how small, hoping it pushes prices up. However, as of noon on Monday, WTI prices were actually &l;a href=\&q;http://www.marketwatch.com/story/us-gas-futures-surge-after-storm-harvey-hits-texas-wti-crude-prices-fall-2017-08-28\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;down&l;/a&g; over 3%. Much of the gossip in the oil-trading world is reminding investors that crude price impacts are historically limited following such storms.&l;/p&g; \n&l;p&g;&l;strong&g;Transportation And Storage&l;/strong&g;&l;/p&g; \n&l;p&g;Shipping channels and ports in Eastern Texas have been disrupted. The Houston shipping channel was &l;a href=\&q;http://www.fox10tv.com/story/27807326/ships-backed-up-in-texas-shipping-channel-closure\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;shut down&l;/a&g; and &l;a href=\&q;https://www.reuters.com/article/us-storm-harvey-corpuschristiport-idUSKCN1B50BH\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;ports&l;/a&g; at Corpus Christi and Galveston were also closed due to the hurricane. Tankers are waiting in the Gulf of Mexico. At this time, neither crude nor petroleum products are coming or going from Eastern Texas. However, &l;a href=\&q;http://www.reuters.com/article/us-storm-harvey-energy-idUSKCN1B70YQ\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;imports&l;/a&g; and exports of crude oil, oil products, and liquefied natural gas are all leaving and entering ports in Louisiana normally.&l;/p&g; \n&l;div id=\&q;attachment_34810842\&q; class=\&q;wp-caption alignright\&q;&g; \n &l;div class=\&q;article-body-image\&q;&g; \n  &l;img class=\&q;dam-image bloomberg size-large wp-image-34810842\&q; src=\&q;https://specials-images.forbesimg.com/imageserve/34810842/960x0.jpg?fit=scale\&q; data-height=\&q;613\&q; data-width=\&q;960\&q; /&g; \n &l;/div&g; \n &l;div article-image-caption=\&q;\&q;&g; \n  &l;div class=\&q;caption-container\&q; ng-class=\&q;caption_state\&q;&g; \n   &l;fbs-accordion current=\&q;0\&q;&g; \n    &l;p class=\&q;wp-caption-text\&q;&g;A storage tank is seen at the ExxonMobil oil refinery along the Houston Ship Channel in Houston, Texas. ( Carlos Javier Sanchez/ Bloomberg News)&l;/p&g; \n   &l;/fbs-accordion&g; \n  &l;/div&g; \n &l;/div&g; \n&l;/div&g; \n&l;p&g;The impact of flooding on some ports may be serious. Some have been &l;a href=\&q;https://www.platts.com/latest-news/oil/newyork/factbox-refineries-now-facing-brunt-of-harvey-21762771\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;filled with silt&l;/a&g; that builds up from the influx of water. This is called “shoaling,” and it will require cleanup and maybe repairs. There will likely be a disruption of normal import and export patterns, but it is impossible to know how much until the damage is assessed. However, unlike after other Gulf hurricanes, there is no expectation of a shortage of crude oil because there is so much excessive oil already in storage. The problem, in this case, is ensuring that active refineries can access crude oil. The U.S. government has indicated that it is not planning to release oil from the Strategic Petroleum Reserve though it is prepared to if &l;a href=\&q;https://www.wsj.com/articles/gasoline-prices-surge-after-hurricane-harvey-1503911874\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;conditions&l;/a&g; make it necessary.&l;/p&g;&q;,&q;&l;p&g;&l;strong&g;Gasoline&l;/strong&g;&l;/p&g; \n&l;p&g;Gasoline prices will likely see the greatest impact from the storm in the energy industry. Sunday night &l;a href=\&q;https://www.google.com/url?sa=t&a;amp;rct=j&a;amp;q=&a;amp;esrc=s&a;amp;source=web&a;amp;cd=4&a;amp;cad=rja&a;amp;uact=8&a;amp;ved=0ahUKEwjUh6_GsvrVAhUorFQKHVftAPMQFgg6MAM&a;amp;url=https%3A%2F%2Fwww.cnbc.com%2F2017%2F08%2F27%2Fgasoline-futures-rise-as-much-as-6-percent.html&a;amp;usg=AFQjCNHJXPvrZlez0rtL2V7HSZga_YmyAg\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;gasoline futures&l;/a&g; rose almost 7%. 2.2 million barrels per day of refining capacity in Texas have been shut or greatly reduced as a result of Harvey. Among the facilities disrupted is the &l;a href=\&q;https://www.reuters.com/article/us-storm-harvey-energy-idUSKCN1B70YQ?utm_source=twitter&a;amp;utm_medium=Social\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;second largest&l;/a&g; refinery in the U.S. (an ExxonMobil-owned operation in Baytown, TX that refines 560,500 barrels per day). The industry expects some of these refining operations to be closed or at least disrupted for at least a week. However, good news is that along the Texas-Louisiana border the largest refinery in the U.S. (Aramco-owned Motiva which refines 600,000 barrels per day) is operating fully, at least for the time being. There are some &l;a href=\&q;https://twitter.com/Devikakrishnak/status/902199231104126976\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;reports&l;/a&g; that Motiva is considering a shut down depending on Harvey’s path. Citgo is also planning to &l;a href=\&q;https://twitter.com/staunovo/status/902212966107553793\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;restart operations&l;/a&g; at its Corpus Christi refinery on Thursday.&l;/p&g; \n&l;div id=\&q;attachment_41507383\&q; class=\&q;wp-caption alignleft\&q;&g; \n &l;div class=\&q;article-body-image\&q;&g; \n  &l;img class=\&q;dam-image bloomberg size-large wp-image-41507383\&q; src=\&q;https://specials-images.forbesimg.com/imageserve/41507383/960x0.jpg?fit=scale\&q; data-height=\&q;640\&q; data-width=\&q;960\&q; /&g; \n &l;/div&g; \n &l;div article-image-caption=\&q;\&q;&g; \n  &l;div class=\&q;caption-container\&q; ng-class=\&q;caption_state\&q;&g; \n   &l;fbs-accordion current=\&q;0\&q;&g; \n    &l;p class=\&q;wp-caption-text\&q;&g;Customers fuel vehicles at a Sunoco LP gas station ahead of Hurricane Harvey in Texas City, Texas, U.S., on Friday, Aug. 25, 2017. The price of gasoline rallied as the hurricane&a;nbsp;threatened to wreak havoc on the heart of America&s;s energy sector. (F. Carter Smith/Bloomberg)&l;/p&g; \n   &l;/fbs-accordion&g; \n  &l;/div&g; \n &l;/div&g; \n&l;/div&g; \n&l;p&g;Recent EIA have shown &l;a href=\&q;https://finance.yahoo.com/news/oil-prices-slip-api-reports-205200977.html\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;gasoline&l;/a&g; builds, so there was already a backlog of gasoline in the system to compensate for some loss of refining. Nevertheless, prices are expected to rise. There was also concern before the storm that pipeline closures could disrupt supplies in other parts of the U.S. and some pipelines that supply crude and condensate to refineries in Texas are closed. However, the main concern for consumers in the eastern U.S. was the Colonial Pipeline. This pipeline supplies gasoline and other products to key area. If the Colonial Pipeline were to be disrupted, gasoline prices in the Southeast would spike as they did during other recent disruptions, but the pipeline appears to be &l;a href=\&q;https://twitter.com/catkngai/status/902173044239675393\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;operating&l;/a&g; normally.&l;/p&g; \n&l;p&g; \n &l;fbs-ad position=\&q;inread\&q; progressive=\&q;\&q;&g;&l;/fbs-ad&g;&l;/p&g; \n&l;p&g;The refining disruptions in Texas should take us right into the Labor Day weekend when many Americans are on the road and buying gasoline. Typically, gasoline prices rise in September as refineries slow for scheduled changes to winter blends. Harvey and the flooding that has followed may exacerbate the gasoline price jump for a while, but the higher prices will pass before long.&l;/p&g; \n&l;p class=\&q;tweet_line\&q;&g;&l;span class=\&q;tweet_quote\&q;&g; &l;a href=\&q;https://twitter.com/intent/tweet?url=http%3A%2F%2Fwww.forbes.com%2Fsites%2Fellenrwald%2F2017%2F08%2F28%2Fhurricane-harvey-impacts-crude-oil-and-gasoline-what-you-need-to-know%2F&a;amp;text=As%20we%20pay%20more%20at%20the%20pump%20perhaps%20we%20will%20think%20of%20those%20who%20are%20rebuilding%20in%20Texas%20and%20remember%20to%20help%20as%20we%20can\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;As we pay more at the pump, perhaps we will think of those who are rebuilding in Houston, Rockport and Corpus Christi and remember to help as we can.&l;span&g;&l;/span&g;&l;/a&g;&l;/span&g;&l;/p&g; \n&l;div class=\&q;vestpocket\&q; vest-pocket=\&q;\&q;&g;&l;/div&g; \n&l;p&g;&a;nbsp;&l;/p&g;&q;],&q;channelSectionMappings&q;:[{&q;id&q;:&q;channel_2&q;,&q;channelName&q;:&q;Investing&q;,&q;url&q;:&q;/investing&q;},{&q;id&q;:&q;channel_2section_64&q;,&q;channelName&q;:&q;Investing&q;,&q;sectionName&q;:&q;Stocks&q;,&q;url&q;:&q;/stocks&q;},{&q;id&q;:&q;channel_2section_66&q;,&q;channelName&q;:&q;Investing&q;,&q;sectionName&q;:&q;International&q;,&q;url&q;:&q;/international&q;},{&q;id&q;:&q;channel_2section_9&q;,&q;channelName&q;:&q;Investing&q;,&q;sectionName&q;:&q;Commodities &a; Currencies&q;,&q;url&q;:&q;/commodities-currencies&q;}],&q;blogId&q;:&q;4357&q;,&q;disableDigest&q;:false,&q;pTagCount&q;:18,&q;hashtags&q;:[&q;PowerUp&q;],&q;hideDescription&q;:false,&q;sponsored&q;:false,&q;doNotPaginate&q;:false,&q;editorsPick&q;:false,&q;sentimentScore&q;:-0.377653,&q;numberOfImages&q;:3,&q;relativeVideo&q;:{&q;videoId&q;:&q;5174396200001&q;,&q;title&q;:&q;Tesla, Panasonic Envision Solar Partnership At SolarCity&s;s New York Panel Factory&q;,&q;playerId&q;:&q;S1EBSbDn&q;,&q;keyValues&q;:&q;displaysection=&a;fl=&a;channel=investing&a;swimlane=&a;specialslot=&a;section=investing:stocks,investing:international,investing:commodities&a;currencies&a;id=blogAndPostId/blog/post/4357-1020&a;brand=&a;displaychannel=investing&q;,&q;autoPlay&q;:true},&q;relativeVideos&q;:[{&q;videoId&q;:&q;5194086494001&q;,&q;title&q;:&q;Lesson From The Colonial Outage: Let The Koch Bros. 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