In numbers: How Hurricane Harvey is battering the US oil market

As the United States come to grips with one of its worst storms in decades in the Texas region which is home to a quarter of US crude-oil refining capacity, and some areas dealing with almost a year’s worth of rains in days and have already claimed two lives, oil markets are beginning to feel the impact of the storm already.

Hurricane Harvey has knocked out a quarter of oil production from the Gulf of Mexico, prompting fears it could overturn years of excess US oil capacity and low prices. Below are major impacts in numbers.

2.45 million bpd  – Analysts say over 15 percent of US refining capacity which translates to about 2.45 million barrels per day have been shut in after Tropical Storm Harvey flooded plants and shut seaports in Houston, the capital of US oil production

21% – The profit that refiners make per barrel of gasoline jumped as high as 21 percent in the first trading day following Harvey’s landfall near Corpus Christi, Texas, late on Friday, as fears of short supplies gripped the market.

Gasoline for immediate delivery in the Gulf Coast hit five-year highs, traders said, while U.S. gasoline futures RBc1 jumped as much as 7 percent to $1.78 per gallon, the highest since late July 2015.

331,370 – The Bureau of Safety and Environmental Enforcement on Sunday estimated that 331,370 barrels a day worth of crude-oil production had been halted, equal to around 18.9% of current Gulf output.

2.7 percent – West Texas Intermediate crude for October delivery in the U.S. benchmark, dropped $1.30, or 2.7%, to $46.57 a barrel, a one-month low.

1% – Brent crude, the global benchmark, initially rose before being pulled into negative territory. The October contract  on the ICE Futures Europe exchange lost 52 cents, or 1%, to settle at $51.89 a barrel.