So I'm seeing things online indicating that gas prices will rise due to the hurricane. That would lead me to believe the price for crude would go up, but from what I'm seeing a lot of the refineries are down due to said hurricane. That would indicate prices of oil will remain the same, or even decline and possibly have companies curb their production. How will this effect the oil field drivers, specifically those hauling frac sand etc? Would it be wise to avoid going out there right now to see how this plans out? Thoughts?
With refineries down gas prices go up and demand for crude goes down since they don't have the refineries to process the crude.
That's what I figured after doing some more reading on the subject. I know gas stations around here are "running out" has there been any situations out in West Tx getting diesel? Has fracing slowed down measurably?
West Texas has it's own refineries. There is a good size one in Big Spring that will keep West Texas awash in Fuel. There may be a day or two delay in fracking projects but i don't see this causing a slow down in the Permian. The Eagle Ford may be affected quite a bit.
Corpus Christi supposedly went back up this morning. Colonial Pipeline is either up or will be up by Monday. Houston will be a while, but the shortage will be short-lived. I don't think it's worth worrying about.
