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Hurricane Update: Irma Downgraded But Continues to Impact Fuels Market

September 11, 2017

Hurricane Update: Irma Downgraded But Continues to Impact Fuels Market

Hurricane Irma has now been downgraded to a tropical storm, though it is still battering Florida and Georgia, sending residual effects to states up the coast and in the south and mid-west. In Florida, about 65 percent of gas stations are reported to be out of gas, though prices have begun falling as the hurricane begins to wane. In the oil market, prices have fluctuated as the storm hit over the weekend. MarketWatch reports that the market has started to recover, though demand remains low and some refineries on the Gulf Coast are still closed.