Harvey Makes Landfall Again Shutting Down More Refineries

The video discusses the sharp increase in gasoline prices due to market expectations of a tightening supply, particularly in the New York area. This is attributed to the impact of Hurricane Harvey, which has caused significant flooding and refinery shutdowns in Texas and Louisiana. The video highlights the importance of refining capacity in these regions and the ongoing challenges faced by refineries near New Orleans and Houston.

What does the sharp spike in gasoline prices indicate about the market's expectations?

Why is the East Coast of the United States particularly affected by the gasoline market situation?

What impact did Hurricane Harvey have on the refineries in Texas and Louisiana?

How does the refining capacity near New Orleans relate to the overall gasoline market?

What are the concerns regarding the refining capacity in both Texas and Louisiana?