{"id":25083,"date":"2017-09-01T08:46:53","date_gmt":"2017-09-01T13:46:53","guid":{"rendered":"http:\/\/olduvai.ca\/?p=25083"},"modified":"2017-09-01T08:47:19","modified_gmt":"2017-09-01T13:47:19","slug":"harvey-hangover-hits-pump-prices-jet-fuel-premium-highest-since-2008","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=25083","title":{"rendered":"Harvey Hangover Hits Pump Prices, Jet Fuel Premium Highest Since 2008"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2017-09-01\/harvey-hangover-hits-pump-prices-jet-fuel-premium-highest-2008\">Harvey Hangover Hits Pump Prices, Jet Fuel Premium Highest Since 2008<\/a><\/h3>\n<section class=\"node node-type-story node-full node-nid-602711 ads-injected\">\n<div class=\"content\">\n<p><strong><em>&#8220;It&#8217;s only just beginning,&#8221; <\/em><\/strong>warned one seasoned veteran energy trader as the hangover from Hurricane Harvey flows downstream to<strong> retail gas prices and jet fuel premiums<\/strong>.<\/p>\n<p>As Bloomberg notes, Harvey impact currently includes:<\/p>\n<ul>\n<li>Colonial\u00a0says it\u2019ll commingle Rbob and conventional gasoline<\/li>\n<li>Explorer Pipeline\u00a0planning to start lines Saturday, Sunday<\/li>\n<li>Logjam\u00a0grows to 29 oil tankers as 11 ports remain closed<\/li>\n<li>Total Port Arthur\u00a0is said facing extended shutdown on power loss<\/li>\n<li>Texas\u00a0storm bucks N.Y. traders with wild gasoline expiry swings<\/li>\n<li>NHC\u00a0issues final advisory on Harvey; losing tropical character<\/li>\n<\/ul>\n<p>Which has left <strong>retail gas prices at the pump are now at their highest in 2 years&#8230;<\/strong><\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/08\/31\/20170831_EOD11.jpg\"><img decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/08\/31\/20170831_EOD11_0.jpg\" alt=\"\" \/><\/a><\/p>\n<p>And judging by their usual lagged response to RBOB, are <strong>set to go dramaticaly higher in the next few weeks&#8230;<\/strong><\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/08\/31\/20170831_EOD12_1.jpg\"><img decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/08\/31\/20170831_EOD12_1_0.jpg\" alt=\"\" \/><\/a><\/p>\n<p>And while inventories are high, deliveries are slow and fears of shortages have created lines at many Texas gas stations&#8230;<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/08\/31\/20170901_gas.jpg\"><img decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/08\/31\/20170901_gas_0.jpg\" alt=\"\" \/><\/a><\/p>\n<p><em><strong>\u00a0&#8220;This is going to be a substantial ouch for consumers,&#8221; <\/strong><\/em>said Tom Kloza, global head of energy analysis for Oil Price Information Service. <em><strong>&#8220;Satan could not have drawn up a more horrible geographic scenario for knocking out Texas refining.&#8221;<\/strong><\/em><\/p>\n<p>But it is Jet Fuel premiums that are even more worrisome&#8230;<\/p>\n<p><strong>New York\u00a0jet\u00a0fuel\u2019s\u00a0premium\u00a0to Nymex futures rises 20.5c to 36c\/gal., widest since 2008, <\/strong>data compiled by Bloomberg show.<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/08\/31\/20170831_jet.jpg\"><img decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/08\/31\/20170831_jet_0.jpg\" alt=\"\" \/><\/a><\/p>\n<p>And <strong>U.S. Gulf\u00a0jet\u00a0fuel\u00a0premium widens 10.25c to 19c\/gal., also widest since 2008<\/strong>&#8230;<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/08\/31\/20170831_jet1.jpg\"><img decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/08\/31\/20170831_jet1_0.jpg\" alt=\"\" \/><\/a><\/p>\n<p>And unlike Gasoline &#8211; where inventories are high &#8211; Jet fuel inventories are below average.<\/p>\n<p>The latest EIA data implies<strong> jet fuel inventory levels are just over 23 days of forward cover, seasonally-adjusted, 8% below the five-year average. <\/strong>Flooding and crude oil supply disruptions have led to the temporary closing of more than 21% of the country&#8217;s refining capacity, primarily in the Gulf Coast, contributing to further draws on jet fuel inventories.<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/08\/31\/20170831_jet2.jpg\"><img decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2017\/08\/31\/20170831_jet2_0.jpg\" alt=\"\" \/><\/a><\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Harvey Hangover Hits Pump Prices, Jet Fuel Premium Highest Since 2008 &#8220;It&#8217;s only just beginning,&#8221; warned one seasoned veteran energy trader as the hangover from Hurricane Harvey flows downstream to retail gas prices and jet fuel premiums. As Bloomberg notes, Harvey impact currently includes: Colonial\u00a0says it\u2019ll commingle Rbob and conventional gasoline Explorer Pipeline\u00a0planning to start [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[5595,3458,15724,7537,7536,2063,4318],"class_list":["post-25083","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-gasoline-prices","tag-houston","tag-hurricane-harvey","tag-oil-refineries","tag-oil-refining","tag-texas","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25083"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25083\/revisions"}],"predecessor-version":[{"id":25085,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25083\/revisions\/25085"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}