The report was welcomed by Chris Hunt, director general of the UK's Petroleum Industry Association, which represents refiners.

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Depending on how serious the destruction is, look for shares of U.S. refiners like Valero, Tesoro, Marathon Petroleum and Phillips 66 to climb Monday on the expectation of tighter gasoline supplies (and higher prices) in the hemisphere.

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Edward Murphy, a research director at the American Petroleum Institute, points out that it costs foreign refiners no more than 4 cents a gallon to ship gasoline to the U.S. That means increased imports from Europe, which has seen declining demand for gasoline as motorists opt for diesel.

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Refiners also have the option of seeking assistance from the U.S. Strategic Petroleum Reserve (SPR), with 726.6 million barrels, which the Department of Energy has offered to tap if supply shortages threaten the U.S. consumer market.

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