Steve Eames News
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Western Canada Select, a heavy Canadian oil, surged to the smallest discount versus West Texas Intermediate in three months as refiners returned from seasonal maintenance, boosting demand.
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Potential acquirers could scoop up CVR Energy Inc. at the cheapest takeover valuation on record for a U.S. oil refiner and still reward shareholders with a billion dollar windfall.
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CVR Energy Inc. shut a crude-oil pipeline in Kansas near its Coffeyville refinery after a leak and said refinery operations aren’t affected.
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CVR Energy Inc., the oil-refining company that was taken public in 2007 by Goldman Sachs Group Inc., should put itself up for sale to profit from higher gasoline prices, billionaire investor Carl Icahn said.
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CVR Energy Inc. had an explosion late yesterday at a nitrogen fertilizer plant near its Coffeyville, Kansas, refinery, said Steve Eames , a spokesman for the company.
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Western Canada Select crude oil strengthened after CVR Energy Inc. said it was starting up units at the Coffeyville refinery in Kansas following maintenance.
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Diesel fuel in the Midwest strengthened amid speculation that refinery maintenance may curtail production as farmers use more fuel to harvest crops.
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Midwest gasoline strengthened after Coffeyville Resources LLC shut a gas compressor at a refinery in Kansas.
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Gasoline in the Midwest and Gulf Coast strengthened as CVR Energy Inc. worked to return a reformer to normal operations and some terminals shut dock operations on the Mississippi because of high water levels.
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Gasoline in New York strengthened after inventories declined and imports of the fuel fell to the lowest level in three weeks.
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