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Harvey was the first hurricane to hit Texas since 2008 and the first major US hurricane landfall since 2005. The storm disrupted refining in the region, while WTI price impacts were muted and offshore output dipped slightly.
Rising shares of US production inland and in fracking reduce how much a Gulf hurricane moves crude supply. Refinery disruption still affects product prices more than crude.
fuelsmarketnews.comFuels Market NewsAug 29, 2017After 13 past neutral weather events, Crude Oil (WTI) moved a median +2.3% over 5 sessions (62% higher; middle half -0.9% to +4.7%), and +6.1% over 20.
After 15 past neutral weather events, Natural Gas moved a median -5.0% over 5 sessions (27% higher; middle half -11.3% to -0.9%), and +4.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
