Gasoline Price Strengthed Further as Ex-Hurricane Harvey Lingered

Gasoline prices jumped +6% in Asia Monday as the market assessed the impact of ex-hurricane Harvey (now downgraded to tropical storm)on gasoline supply. On Sunday, the US Department of the Interior's Bureau of Safety and Environmental Enforcement (BSEE) said in an update that approximately 21.64% of the current oil production of 1.75M bpd in the Gulf of Mexico has been shut-in, which equates to 0.378M bpd.

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Gasoline Price Strengthed Further as Ex-Hurricane Harvey Lingered