Summary
DALLAS - Oil companies said Monday that damage to their massive Texas refineries from Hurricane Rita appeared lighter than expected, but analysts are still predicting that retail gasoline prices may remain near $3 a gallon for weeks or even months.
That's a consequence of tight supplies and the fact that it may take weeks to restart all the closed refineries in Texas, Louisiana and Mississippi - more than a dozen in all. Combined with reports of Rita-related damage to rigs in the Gulf of Mexico, the idle refineries raised fears about shortfalls of heating oil and natural gas, fuels homeowners will use to warm their homes this winter.See the full content of this document
Extract
Refinery Damages Limited, yet Costly
That uncertainty was evident on energy markets Monday as crude oil futures rose more than $1 a barrel and gasoline and natural gas futures also...
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