Gulf Coast News
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Ethanol strengthened against gasoline for the first time in four days as the summer driving season neared while production costs rose.
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U.S. Midwest gasoline weakened from the highest level on record on speculation that shipments being sent to the region will help to relieve a shortage.
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Oils produced on the U.S. Gulf Coast gained against domestic benchmark West Texas Intermediate as refiners increased runs before the summer driving season.
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Rates for the largest oil tankers on the benchmark route fell for a third day on speculation too many ships competing for cargoes outweighed increased bookings.
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Shipments of diesel to Europe from the U.S. Gulf Coast are poised to decline over the next two weeks, a Bloomberg News survey showed.
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President Barack Obama attempts to regain his political footing with a trip to Baltimore today to promote jobs and education after a calamitous week that pulled attention away from his second-term agenda.
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Crudes from the Gulf of Mexico strengthened on the spot market as crack spreads reached the highest level in more than three weeks, prompting refiners to process more oil.
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Maintenance on the Transco natural- gas pipeline in northern New Jersey won’t interrupt customer deliveries, Christopher Stockton, a Houston-based spokesman for Williams Cos., said in an e-mail.
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Gasoline on the U.S. Gulf Coast weakened against futures for a second day after Colonial Pipeline Co. shut a segment of a line linking the region’s refineries to the Northeastern market.
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Canadian heavy oil prices weakened in light trading on the spot market on the last day of index trading for June deliveries.
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