Valero Refinery in Port Arthur shut down due to flooding

- Hurricane Harvey is forcing refineries along the Gulf Coast to shut down.

Valero says it shut down its refinery in Port Arthur in a "safe, controlled manner."

Gas prices are expected to spike over the next week as around 10 refineries were forced to suspend operations.

Those facilities represent more than 15 percent of the nation's oil refining capacity.

The slow-moving nature of the storm means that shutdowns could last longer than usual and have long-lasting effects on gas prices.

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