U.S. Gulf Coast spot fuels weakened relative to futures as fog restricted traffic on the Houston Ship Channel and a refinery in Texas increased rates for its largest crude unit.
Gasoline rose to the highest intraday level in more than seven weeks as U.S. refinery maintenance threatened to curtail production and reduce supply.
The profit from making gasoline may more than double in the New York region through April as refinery maintenance cuts production and stockpiles.
Valero Energy Corp.’s Port Arthur, Texas, refinery will keep a hydrocracker shut as long as a week for repairs, according to a person familiar with operations.
The following is a selection of the most important news affecting the oil market.
Near the only four-way stoplight in Nixon, Texas, smoke rises off a pilot flare at the Blue Dolphin Energy Co. refinery that had sat cold for two decades.
U.S. Gulf Coast gasoline climbed for a second day after a unit upset at Total SA’s Port Arthur, Texas, refinery signaled a slowdown in production.
Valero Energy Corp. plans to perform maintenance in late 2014 at its Port Arthur, Texas, refinery, a person familiar with a schedule for work said.
U.S. Gulf Coast gasoline strengthened for the first time in four days after Total SA reported a unit upset at its Port Arthur, Texas, refinery.