# As oil prices weather storm, OPEC looks for long-term boost from Harvey

> OPEC is looking to benefit long-term from Hurricane Harvey's disruption of US refining, as US gasoline prices trade at levels that would normally correspond to oil around $84 per barrel. Brent and WTI crude futures sit near $51 and $46 per barrel respectively.

- Date: 2017-08-31 · published 2017-08-31T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/69601-as-oil-prices-weather-storm-opec-looks-for-long-term-boost-from-harvey
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

The wide gap between refined product prices and crude suggests refinery outages keep crude demand weak in the near term, while sustained product tightness could eventually support crude once refineries restart.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-08 | [Oil prices fall as Trump weighs taking over Strait of Hormuz](https://feedsoft.ai/events/6633-oil-prices-fall-as-trump-weighs-taking-over-strait-of-hormuz.md) | +8.5% | +25.0% |
| WTI | 2026-03-09 | [Oil Futures Fall As Market Looks for Shorter War - WSJ](https://feedsoft.ai/events/6631-oil-futures-fall-as-market-looks-for-shorter-war-wsj.md) | +8.5% | +25.0% |
| WTI | 2026-04-01 | [Grain, Oilseed Prices Fall as Traders Look for End to Iran War - Bloomberg](https://feedsoft.ai/events/19762-grain-oilseed-prices-fall-as-traders-look-for-end-to-iran-war-bloomberg.md) | -6.6% | +6.7% |
| WTI | 2026-04-13 | [Oil prices fall as supply concerns ease on hopes for US-Iran talks - CNA](https://feedsoft.ai/events/10085-oil-prices-fall-as-supply-concerns-ease-on-hopes-for-us-iran-talks-cna.md) | -12.8% | -0.0% |
| WTI | 2026-10-29 | [US oil prices fall as investors gauge risks to Mideast supply By Reuters](https://feedsoft.ai/events/252-us-oil-prices-fall-as-investors-gauge-risks-to-mideast-supply-by-reuters.md) | -2.3% | — |
| BRENT | 2026-03-08 | [Oil prices fall as Trump weighs taking over Strait of Hormuz](https://feedsoft.ai/events/6633-oil-prices-fall-as-trump-weighs-taking-over-strait-of-hormuz.md) | +9.5% | +25.6% |
| BRENT | 2026-03-09 | [Oil Futures Fall As Market Looks for Shorter War - WSJ](https://feedsoft.ai/events/6631-oil-futures-fall-as-market-looks-for-shorter-war-wsj.md) | +9.5% | +25.6% |
| BRENT | 2026-04-01 | [Grain, Oilseed Prices Fall as Traders Look for End to Iran War - Bloomberg](https://feedsoft.ai/events/19762-grain-oilseed-prices-fall-as-traders-look-for-end-to-iran-war-bloomberg.md) | -12.2% | -1.1% |

## Sources

- reuters.com: https://www.reuters.com/article/us-storm-harvey-opec/as-oil-prices-weather-storm-opec-looks-for-long-term-boost-from-harvey-idUSKCN1BB1Z0/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.