
"As of Monday afternoon, between 2.5 million bpd and 3.5 million bpd of refining capacity in the Gulf Coast region was offline due to a combination of refineries being shut down or running at reduced rates".
Among the plants being shut down was Exxon's 560,500-barrel per day facility in Baytown, which is the second-largest oil refinery in the USA after Port Arthur.
U.S. refiners in the Midwest will be among the biggest winners after Hurricane Harvey dealt a blow to their competitors on the U.S. Gulf Coast.
October West Texas Intermediate crude fell 48 cents, or 1%, to settle at $45.96 a barrel on the New York Mercantile Exchange.
EIA data for May shows that Texas imported 1.9 million bpd of the total 3 million bpd that entered the USA via the Gulf Coast, as well as 418,000 barrels per day of refined petroleum products. WTI crude oil prices were down 0.8 percent in early Monday trading to under $48/bbl. The discount for U.S. WTI versus Brent reached $5.92 a barrel on Tuesday, its widest in more than two years.
Sources said Motiva Enterprises will decide this morning whether to shut the 603,000 barrel-per-day (bpd) Port Arthur, Texas, refinery, the nation's largest, because of flooding.
McTeague explained that retail operators in markets like Calgary, Montreal and Ottawa are barely breaking even now and could use the wholesale price increase as an excuse to raise prices by as much as another 10 cents per litre to boost profit margins.
Читайте также: EU's Brexit negotiator tells United Kingdom to speed up and 'get serious'"They're not spiking as much as they would have had we not had the backdrop of plentiful inventories", said Smith, noting gasoline supplies sit at a five year high for this time of year.
Some refineries were preparing for restarts, but heavy rains were expected to last through Wednesday, adding to catastrophic flooding.
Harvey rolled into Texas on Friday as a Category Four hurricane, tearing down homes and businesses on the Gulf Coast, and triggering massive floods.
Given the reference period, the data will not have been affected by Hurricane Harvey and the overall impact was limited by uncertainty surrounding the impact of the storm on oil production and refinery capacity.
Crude markets were also eyeing disruptions in Libya and Colombia.
LS Gasoil for September delivery is up 0.206 at $485.25, yet futures for crude oil have fallen.
При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.«» 2007 - 2018 Copyright.
Автоматизированное извлечение информации сайта запрещено.
Код для вставки в блог
Related News:
-
P Chidambaram slams RBI over note ban
A collateral damage as a result of rise in printing and other cost was dividend RBI pays to the government. According to the RBI , 2,56,324 Rs 1,000 notes valued at Rs 25.63 crore were detected during FY17.Johanna Konta crashes out of the US Open in first round
Nevertheless, she had gone into this match having not beaten a top 10 opponent since the 2014 US Open . Asked how she would deal with the defeat, Johanna said: "I think not to catastrophise is important".The Finish Line, Inc. (FINL) Reaches 52-Week Low
Six equities research analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the stock. The Finish Line Inc . has with a one year low of $6.90 and a one year high of $24.52 and has a market capitalization of $0. -
Here's how to help Hurricane Harvey victims
Many people are wondering how to help the thousands of victims of flooding caused by the storm that used to be Hurricane Harvey . While numerous Red Cross's services benefit victims across the United States, blood donations primarily stay local.Rescues continue in Houston; storm called 'disaster of historic proportions'
Total rainfall could reach 50 inches as rain continues through Wednesday. "Texas has never seen an event like this". Rainfall amounts of 5 to 10 inches are expected in southeast Louisiana and coastal MS and Alabama.Nick Saban previews Florida State, updates Davis situation
Saturday's contest between two of the last four national champions will be among the most anticipated first-week games in history. Defenses started to figure out Hurts a little late last season and the sting remains from the loss in the title game. -
Google Maps Will Now Help You Find Parking In Some Cities
Paul, New York City, Orlando, Philadelphia, Phoenix, Pittsburgh, Portland, San Diego, Sacramento, San Francisco, Seattle, St. These difficulty icons will allow users to see how hard it might be to park in certain places.Colts cornerback Vontae Davis out with "pretty significant" groin injury
The addition of Davis to the injury list is yet another complication with cut-downs looming Saturday. Davis has had a history with lower-body injuries and could miss even more time with the injury.Dietary guidelines should focus on reducing consumption of carbs, not fat
Foods like fruits and green vegetables are good sources of carbohydrates, whereas items such as bread and pasta should be limited. Cardiovascular disease is a global epidemic, with 80 per cent of the burden of disease in low- and middle-income countries. -
Torrential rain brings India's financial hub Mumbai to a halt
The majority of deaths occurred in shanty town slums, home to more than half of Mumbai's population. But over the weekend, relentless rain began falling on Mumbai, on India's western coast.Don't panic, Hurricane Harvey could send gas prices up
The national average price for a gallon of gasoline measured across 150,000 service stations is $2.38, DeHaan said. Mississippians won't see skyrocketing gas prices because of Tropical Storm Harvey according to an analyst .Chelsea: Blues close in on Leicester star, Cagliari eye departing striker
A move to Stamford Bridge would see Premier League title victor Drinkwater reunited with former Leicester team-mate N'Golo Kante. Antonio Conte has been vocal in his calls for fresh faces before the summer window closes, with Chelsea short on senior numbers.