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OpenCalais Metadata: Latitude: 
31.4484328889
OpenCalais Metadata: Longitude: 
-97.7816569778

WTI/RBOB Tumble As Valero Says Refinery Startup Underway

WTI/RBOB Tumble As Valero Says Refinery Startup Underway

RBOB is tumbling near $1.60 handle after headlines reported Valero saying that startup is underway at its Three Rivers refinery and its Corpus Christi refinery, both in Texas, according to a statement from co. spokeswoman Lillian Riojas.

Blomberg reports that the company is working to ensure availability of critical transportation and logistics infrastructure to resume all operations. Houston and Texas City, Texas, facilities continue to operate. Port Arthur, Texas, refinery shut because of flooding and potential power supply interruption.

Harvey Makes Second Landfall In Louisiana After Leaving "Apocalyptic" Flooding, Record Rainfall In Texas

Harvey Makes Second Landfall In Louisiana After Leaving "Apocalyptic" Flooding, Record Rainfall In Texas

Five days after it first plowed into southwest Texas as a category 4 hurricane, Tropical Storm Harvey has made second landfall west of Cameron on the border between Texas and Louisiana, early Wednesday according to the National Hurricane Center. The storm, which has already pummeled the city of Houston with more than 50 inches of rain – a new record for the contiguous US, according to the Wall Street Journal – has left at least 18 dead, including two Houston police officers, and forced tens of thousands of people from their homes.

Giant Chemical Plant In Crosby, Texas Warns It Is In "Real Danger" Of Exploding

A chemical plant in Crosby, Texas belonging to French industrial giant Arkema SA, has announced it is evacuating workers on Tuesday due to the risk of an explosion, after Tropical Storm Harvey knocked out power and flooding swamped its backup generators. The French company said the situation at the plant “has become serious” and said that it is working with the Department of Homeland Security and the State of Texas to set up a command post in a suitable location near our site.

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Hurricane Harvey Likely To Destroy More Cars Than Katrina: "This Is Bad; Real Bad"

Hurricane Harvey Likely To Destroy More Cars Than Katrina: "This Is Bad; Real Bad"

Hurricane Harvey's historic flooding in Texas is set to wreak havoc on the auto industry and its insurers with analysts now predicting the storm could damage more vehicles than Hurricane Katrina.  In August 2005, Katrina wiped out some 500,000-600,000 vehicles but William Armstrong of CL King warns that Houston has about 5x more people than New Orleans did at the time.

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