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Top News & Analysis Houston

  • *Brent oil falls after North Korea nuclear test. LONDON, Sept 4- Benchmark U.S. gasoline prices slumped on Monday to pre-Hurricane Harvey levels as oil refineries and pipelines in the U.S. Gulf Coast slowly resumed activity, easing supply concerns. West Texas Intermediate crude futures, however, were up 34 cents at $47.63 barrel as U.S. demand, hit by reduced...

  • *Spot gold on track to reach $1,375/ oz- analyst. LONDON, Sept 4- Gold prices shot up on Monday to their highest in close to a year as investors bought safe-haven assets on worries that North Korea might launch more missiles after its sixth and largest nuclear test. A weaker dollar also underpinned gold, which is likely to continue its upward momentum in the coming days,...

  • WASHINGTON, Sept 4- French chemical firm Arkema SA said an evacuation zone put in place amid fears that more flammable organic pesticides at its flooded plant in Crosby, Texas, would explode was lifted on Monday after the materials were ignited in a controlled burn. The U.S. Environmental Protection Agency and the Texas Commission on Environmental Quality said...

  • *Brent oil falls after North Korea nuclear test. LONDON, Sept 4- Benchmark U.S. gasoline prices slumped on Monday to pre-Hurricane Harvey levels as oil refineries and pipelines in the U.S. Gulf Coast slowly resumed activity, easing supply concerns. West Texas Intermediate crude futures, however, were up 13 cents at $47.42 barrel as U.S. demand, hit by reduced...

  • *Brent oil falls after North Korea nuclear test. LONDON, Sept 4- Benchmark U.S. gasoline prices fell by more than 4 percent on Monday as oil refineries and pipelines in the U.S. Gulf Coast slowly resumed activity after Hurricane Harvey subsided, easing concerns over supply shortages in the world's top oil consumer. Brent crude oil futures were however trading...

  • Brent crude futures, the international benchmark for oil prices, were down 68 cents, or 1.3 percent, at $52.07 a barrel by 0808 GMT. West Texas Intermediate crude futures were more stable, down 8 cents at $47.21 barrel, as several refineries in the U.S. Gulf Coast restarted 10 days after Hurricane Harvey struck the region, boosting the outlook for demand in the...

  • The storm came ashore on Aug. 25 as the most powerful hurricane to hit Texas in more than 50 years. Colonial said it expected to reopen a Texas section of its network from Houston to Hebert, Texas, on Monday, which is the Labor Day holiday. Another fuel system, Explorer Pipeline, said a link running from Texas to Oklahoma restarted on Sunday, with a second pipeline from...

  • HOUSTON, Sept 3- Two key fuel pipelines were set to start up on Monday after certain segments in Texas were shut because of Hurricane Harvey, helping alleviate concerns about rising retail prices and the domestic distribution of gasoline and distillates. Colonial Pipeline Co, the biggest U.S. fuel system, said on Sunday it planned to reopen the main distillate...

  • An aerial view of flood damage from Hurricane Harvey in Houston.

    Treasury Secretary Steven Mnuchin challenged Congress to raise the government's debt limit to free up spending for Hurricane Harvey.

  • Treasury Secretary Steven Mnuchin on Sunday challenged Congress to raise the government's debt limit in order to free up relief spending for Hurricane Harvey, a disaster that the governor of Texas said had caused up to $180 billion in damage. Texas Governor Greg Abbott estimated damage at $150 billion to $180 billion, calling it more costly than Hurricanes...

  • HOUSTON/ NEW YORK, Sept 3- Colonial Pipeline Co, the biggest U.S. fuel system, delayed reopening a segment of its system in Texas that was shut due to Hurricane Harvey, increasing worries about rising retail prices and the domestic distribution of gasoline and distillates. The company, which had originally scheduled a Sunday restart for the segment going from...

  • HOUSTON, Sept 3- The operators of a Crosby, Texas, chemical factory that ran out of electricity needed to keep flammable material refrigerated will burn the remaining trailers holding the substance, officials said on Sunday. Arkema SA, the French chemicals company that runs the plant, and Harris County fire officials decided to burn the 6 remaining trailers of...

  • Treasury Secretary Steven Mnuchin on Sunday challenged Congress to raise the government's debt limit in order to free up relief spending for Hurricane Harvey, a disaster that the governor of Texas said could require up to $180 billion. Texas Governor Greg Abbott estimated damage from Hurricane Harvey at $150 billion to $180 billion, calling it more costly...

  • NEW YORK/ HOUSTON, Sept 3- Colonial Pipeline Co, the biggest U.S. fuel system, delayed reopening a segment of its system in Texas that was shut due to Hurricane Harvey, increasing worries about rising retail prices and the domestic distribution of gasoline and distillates. The company, which had originally scheduled a Sunday restart for the segment going from...

  • HOUSTON, Sept 3- Colonial Pipeline Co on Monday will restart Texas portions of its main distillate and gasoline lines shut by Hurricane Harvey, the biggest U.S. fuels system operator said on Sunday. The main distillate line between Houston and Hebert, Texas, is expected to restart by Monday, and the gasoline line between those two points is expected to be in service...

  • HOUSTON, Sept 3- Texas Governor Greg Abbott on Sunday estimated damage from Hurricane Harvey at $150 billion to $180 billion, calling it more costly than epic hurricanes Katrina or Sandy and fueling a debate over how to pay for the disaster. "Katrina caused if I recall more than $120 billion but when you look at the number of homes and business affected by this I...

  • HOUSTON, Sept 3- Texas Governor Greg Abbott on Sunday estimated damage from Hurricane Harvey at $150 billion to $180 billion, calling it more costly than epic hurricanes Katrina or Sandy and fueling a debate over how to pay for the disaster. "Katrina caused if I recall more than $120 billion but when you look at the number of homes and business affected by this I...

  • HOUSTON, Sept 3- Texas Governor Greg Abbott on Sunday said damage from Hurricane Harvey would exceed that of epic hurricanes Katrina or Sandy, likely reaching $150 billion to $180 billion. Harvey, which came ashore on Aug. 25 as the most powerful hurricane to hit Texas in 50 years, has killed an estimated 47 people and displaced more than 1 million after causing...

  • HOUSTON, Sept 3- State and local governments need to become more self-sufficient in handling major disasters like Hurricane Harvey, FEMA Administrator Brook Long said in a televised interview on Sunday. They cant depend only on federal emergency management, "he said following pointed calls by Houston officials for FEMA to quickly increase staffing in the...

  • NEW YORK, Sept 3- U.S. gasoline prices continued to rise on Sunday amid fears of shortages, despite the restart of several key refineries on the U.S. Gulf Coast that had been crippled by Hurricane Harvey. On Sunday, average retail prices rose again, to $2.621 a gallon, with weekly increases hitting 18 percent in Georgia and 19 percent in South Carolina, according to...