Harvey could be costliest disaster in US history

Wilford Martinez Richard Wagner

The Associated Press Wilford Martinez Richard Wagner

Harris County officials on Tuesday said they are monitoring six neighbourhoods around the reservoirs and encouraged residents in those areas to evacuate before the water levels rise. At least 19 points across southeastern Texas were expected to set flooding records, Greg Waller, a service coordination hydrologist with the National Weather Service in Fort Worth, Texas, said over the weekend, adding that the estimate was a "moving target". "I want to be able to offer my help and support in the most productive way possible, not through just words, but also action", she said in the statement issued by the White House.

Announcing the company's $1 million pledge earlier on Tuesday (29Aug17), Disney chairman and CEO Bob Iger said, "Our hearts go out to everyone in the devastating path of this historic storm".

There are 28 such teams that operate under the Federal Emergency Management Agency. Due to this, there will be less crude oil being turned into gas.

"One of our members today attempted to load a truck, spent 5.5 hours waiting only to discover the bulk plant had run out of fuel".

Brent crude, the international oil price benchmark, was up 0.7 per cent this afternoon at $51.15 a barrel.

More than four days after the storm ravaged the Texas coastline as a Category 4 hurricane, authorities have confirmed only three deaths. The food bank posted on its website on Aug. 25 announcing that it would answer the Salvation Army's call for food assistance.

The downside to a huge premium hike is that it would discourage homeowners from maintaining their policies, which could lead to more uninsured losses and greater economic damage.

"In a flooding situation, there's a lot of contamination", said Pete Piringer, spokesman for Montgomery County's fire department.

"Almost all of the dealerships are closed, and they have been since the hurricane hit, but not all of them are damaged", he said.

The most serious damage appears to have emanated not from the winds felt when Harvey made landfall but by the torrential rain that followed in the aftermath.

On the supply front, Reuters reports that the Nigerian subsidiary of Royal Dutch Shell has announced it has lifted a force majeure on some exports from the country.

Other pipelines that haul fuel from the Gulf Coast including the 700,000 bpd Kinder Morgan Plantation pipeline and Enterprise Products Partners' TE Products system were functional. A report from the Opec cartel last week identified rising demand as the one bright point in the market after it admitted its own output was 400,000 barrels above its pledged cap.

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