collected by :Haron Adler
Here’s your morning jolt of news, insight and analysis on the global Energy Markets.
storm Harvey’s crippling of Gulf Coast oil infrastructure is likely to effect consumers from Houston to Beijing as the U.S. energy
More On Hurricane Harvey – Energy Markets, Equities Impacted
It’s almost sacrilegious to talk about investing based on Hurricane Harvey, given the uncanny death and destruction that has hit the area.
If you want to see and hear a detailed analysis how we forecasted Hurricane Harvey very early and its impact on global markets, please click here.
For example, here are some futures and equities that have responded to Hurricane Harvey.
GlobalGiving, which calls itself the largest global crowdfunding community, has a goal of raising $2 million for its Harvey relief fund.
Samaritan’s Purse is accepting donations as well as volunteers for Harvey disaster relief for the coming months.
Harvey Tests Houston’s Prominence in the Global Energy Markets
according to Harvey shut down a third Gulf Coast refining center Wednesday, and is knocking on the door of a fourth.
Port Houston has warned shippers it is likely to be closed to large vessels at least through Saturday.
Harvey could do some $10 billion in damage to infrastructure in the Houston area, a significant portion of it tied to energy, according to Adam Kamins, an economist for Moody’s Analytics.
The shutdowns in Texas could also impact global markets, because of the much bigger role the U.S. now plays.
Photo: GettyThe U.S. Gulf Coast has become an international fuel factory, exporting gasoline to Mexico and Brazil and diesel to Europe.
Harvey Ripples Through U.S., Global Energy Markets
Liquefied natural gas, or LNG, exports were not significantly impacted, but the storm’s aftermath and cleanup raise questions among energy importers across the globe who eye these resources.
Washington, industry regulators and importers across the world are watching how quickly Houston and the region’s energy sector recover.
Since the 1970s, Houston emerged as America’s energy capital and a top energy hub in the world.
The impact of the shale revolution for global energy markets cannot be underestimated, and thus Harvey is significant beyond the regional economy.
As the United States solidifies its lead in the global energy markets, local natural disasters or manmade accidents will have cross-border implications on world energy pricing, supply and liquidity.
Fallout From Harvey to Disrupt Energy Markets Around the World
Photo: nick oxford/ReutersTropical Storm Harvey is upending the flow of oil and petroleum all around the world—a consequence of the growing influence of the U.S. in the global energy industry.
And the U.S. Gulf Coast has been at the center of this shift.
Gasoline exports surged 33% to a record last year and have continued to rise this year.
Related Video President Donald Trump praised the response to Tropical Storm Harvey in remarks with Texas Gov.
Matthew Smith, director of commodity research at ClipperData, said the East Coast risks being “left somewhat stranded” if flows from the Gulf Coast are limited.