French retailer Carrefour to buy 172 stores in Spain
French retailer Carrefour to buy 172 stores in Spain
Oil price hits five-month high as hurricane heads for US refineries
Aramco shutters giant Texas plant as 'catastrophic' storm barrels toward Gulf of Mexico
Updated 27 August 2020
Frank Kane
August 27, 2020 02:45
DUBAI: Oil prices hit a five-month high on Wednesday as Hurricane Laura homed in on the heartland of the US energy industry.
With the hurricane strengthening and upgraded to a "catastrophic“ Force 4 storm, the oil industry around the Gulf of Mexico was bracing itself for landfall in the next 24 hours.
Oil producers and refiners “” including Saudi Aramco's giant Motiva plant on the Texas coast, the largest refinery in North America “” shuttered their operations for the duration of the hurricane.
Aramco said: "Motiva Enterprises is performing shutdown activities for its Port Arthur refinery and chemical plant ahead of
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