Port Arthur News
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No North American railroad is a more alluring, or expensive, takeover target than Kansas City Southern.
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U.S. Gulf Coast gasoline weakened to the lowest level in almost three weeks as Phillips 66 restarted its Sweeny, Texas, refinery and Exxon Mobil Corp. returned a unit to service at its Baytown plant, also in Texas.
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Light, sweet crude in Houston has weakened to a bigger discount to oil in Louisiana and to international benchmark Brent because of shipping constraints.
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Spot gasoline in the Gulf weakened versus futures, shrinking to the lowest level in 10 days, as Motiva Enterprises LLC restarted units at the 600,000-barrel-a- day Port Arthur, Texas, refinery, the largest in the U.S.
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Spot gasoline in the Gulf Coast strengthened to the highest level against futures in six weeks after a power failure shut units at refineries in the Port Arthur, Texas, area.
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West Texas Intermediate crude jumped the most this year as a government report showed that U.S. gasoline stockpiles tumbled while oil inventories rose less than analysts estimated.
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Total Petrochemicals USA Inc. and Motiva Enterprises LLC were among the companies that reported refinery flaring in Port Arthur, Texas, due to a power failure, according to recorded messages posted on the Southeast Texas Alerting Network.
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U.S. Gulf Coast gasoline weakened for a third day, falling to an 11-day low against futures, as operations returned to normal at Texas refineries owned by Valero Energy Corp. and Motiva Enterprises LLC.
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Gasoline futures slipped as refineries started units and a stronger dollar reduced the appeal of commodities as an investment. Crack spreads narrowed.
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Total Petrochemicals USA Inc. reported a fire at the Port Arthur refinery in Texas, according to a recorded message posted on the Southeast Texas Alerting Network at 11 a.m. local time.
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