Oil prices in the U.S. are rising amid refinery shutdowns

Power cutoffs and flight cancellations were not the only consequences of freezing temperatures across more of the U.S. The inclement weather caused shutdowns at several refineries, pushing up oil prices.

On Friday, an extreme cold and winter storm resulted in a partial shutdown of the LyondellBasell Industries refinery in Houston with a capacity of 268,000 barrels per day. One of the biggest oil productions in the U.S. for high-sulfur oil is Houston Refining.

Referring to sources, First Squawk reported on the closure of the Marathon Petroleum refinery in Galveston Bay. And PiQ reported on the shutdown of the Motiva Enterprises companies in Port Arthur.

The capacity of Marathon refinery in Galveston Bay is 593,000 barrels per day. The capacity of Port Arthur refinery is 630,000 barrels per day.