Hurricane Harvey's Continues Its Assault on Gasoline Futures

Gasoline futures spiked early in Asia to a two-year high
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Colonial Pipeline, the biggest U.S. transporter of fuel, temporarily shut down the main pipeline carrying fuel from Texas to the East Coast because of refinery closures related to Hurricane Harvey.

Gasoline futures spiked early in Asia to a two-year high, according to FactSet, while futures for West Texas Intermediate crude oil were up 0.3% to $46.11 a barrel in choppy trading.

Arkema  (ARKAY)  saw its shares fall sharply in Paris on Thursday after the company confirmed an explosion at a chemical factory outside Houston that has led to a local evacuation. Local media have reported explosions and black smoke at the in Crosby, Texas plant, which manufactures, among other products, organic peroxide, in the early hours of Thursday morning.

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