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Hurricane horror: Global fuel prices jump on Harvey's impact

Hurricane could impact debt ceiling deadline, says US Treasury Secretary

Hurricane Harvey
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Houses submerged in the flood water due to the hurricane in Houston | Photo: Reuters

Agencies
Tropical storm Harvey's impact on the energy industry spread worldwide as flooded US refiners and closed fuel pipelines threatened to squeeze national supply, roiling global fuel markets and rerouting millions of barrels of fuel to the Americas to avert shortages.

The storm, which lashed Louisiana with rain on Thursday, has pummeled the US Gulf Coast, immersing Houston, Texas, and the surrounding area in several feet of water and forcing the closure of about a quarter of US refining capacity.

Benchmark US gasoline prices and margins surged anew on Thursday. The jump came after the Colonial Pipeline, the biggest US fuel system, said