The following is a selection of the most important news affecting the oil market.
Western Refining Inc. plans to shut a portion of its El Paso refinery in Texas starting in February for planned work.
Western Refining Inc., the owner of refineries near the Permian Basin in West Texas and New Mexico, rose the most in two months with Permian crude at a record discount to U.S. benchmark prices.
Western Texas crude weakened prior to maintenance at a refinery that’s a large consumer of oil produced in the region.
West Texas Sour weakened against the U.S. benchmark crude as Western Refining Inc.’s El Paso plant in Texas reduced production after an unplanned outage on a fluid catalytic cracker.
El Paso Electric Co. , supplier of power to an oil refinery and the U.S. Army’s Fort Bliss, said it’s seeking alternative power supplies should an Arizona wildfire cut electrical lines from Palo Verde, the nation’s largest nuclear generating plant.
West Texas Sour oil weakened to the cheapest versus benchmark West Texas Intermediate in almost seven weeks because of decreased demand during refinery maintenance and growing production.
The discount for West Texas Sour crude widened after Western Refining Inc. said its El Paso refinery in Texas was affected by a power failure earlier today.
Gulf Coast gasoline strengthened after Western Refining Inc.’s El Paso, Texas, refinery shut overnight because of a power outage.
Western Refining Inc. said it plans to restart certain units of its El Paso, Texas, plant in three to five days after cold weather caused a shutdown Feb. 2.
"We're not concerned."
- Gary Hanson on Jun 08, 2011