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Gas supplies dwindle in U.S. Southeast, prices climb due to pipeline outage


Gas supplies dwindle in U.S. Southeast, prices climb due to pipeline outage
By Laura Sanicola and Devika Krishna Kumar
Reuters
(Reuters) -Gas stations from Florida to Virginia began running dry and prices at the pump jumped on Tuesday as the shutdown of the biggest U.S. fuel pipeline by hackers extended into a fifth day and sparked panic buying by motorists.
About 7.5% of gas stations in Virginia and 5% in North Carolina had no fuel on Tuesday as demand jumped 20%, tracking firm GasBuddy said. Prices rose to their highest in more than six years, and Georgia suspended sales tax on gas until Saturday to ease the strain on consumers. North Carolina declared an emergency. ....

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Winter Storm Uri Losses in Texas Expected in $10B – $20B Range


Winter Storm Uri Losses in Texas Expected in $10B – $20B Range
March 1, 2021
It’s likely that insured losses in Texas from Winter Storm Uri, which overwhelmed the state in mid-February, will climb into the $10 billion to $20 billion range, according to catastrophe modelers and insurance industry market analysts.
Losses from Uri may be “somewhat comparable to those from Hurricane Harvey, which was a Category 4 hurricane that made landfall on Texas and Louisiana in August 2017,” according to S&P Global ratings. The market intelligence organization said in a Feb. 26 media release, however, that it was still “too early to accurately quantify the insured losses given the complexity of the event.” ....

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