Alex Moorhead News
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The U.S. Virgin Islands will confront the threat of a debt downgrade when one of the region’s largest oil refineries shuts down this month, doubling joblessness on St. Croix, the archipelago’s poorest island.
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Hovensa LLC moved up a planned shutdown of a sulfur recovery unit at its St. Croix refinery in the U.S. Virgin Islands.
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Hovensa LLC said a fire in a distillate desulfurizer broke out at its St. Croix refinery in the U.S. Virgin Islands.
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New York Harbor gasoline rose from a discount versus futures after Hovensa LLC said its St. Croix refinery in the U.S. Virgin Islands reduced rates to conduct maintenance on a sulfur recovery unit.
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Hovensa LLC shut the fluid catalytic cracker at its Saint Croix refinery in the U.S. Virgin Islands for repairs, Alex Moorhead , a company spokesman, said in an e- mail.
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Hovensa LLC reduced rates to a minimum on the 61,000-barrel-a-day coker at its St. Croix refinery while the plant’s only fluid catalytic cracker is being repaired, according to two people familiar with operations.
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Hurricane Earl moved west toward the northern Leeward Islands after strengthening from a tropical storm, and Hurricane Danielle weakened as it tracks north away from Bermuda, the U.S. National Hurricane Center said.
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Gasoline led gains by oil and heating oil as Hovensa LLC shut the 150,000-barrel-a-day fluid catalytic cracker at its St. Croix refinery for repairs, reducing supplies of the motor fuel available to the U.S. East Coast market. Ethanol also rose.
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Spot jet fuel spreads in New York and on the Gulf Coast reached their highest levels in 19 months as Hovensa LLC reduced rates at its St. Croix refinery in the U.S. Virgin Islands and airlines flew more.
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Spot gasoline in New York strengthened as Hovensa LLC planned to shut older units at its St. Croix refinery in the Virgin Islands.
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