The blast at a Texas oil refinery early Thursday will probably push already high gasoline prices even higher — although not immediately.
The blast and resulting fire at the ExxonMobil plant in the Houston-area city of Baytown, Texas, injured at least four workers. The accident could hamper output at one of America's largest refineries for months, weighing on gasoline supply at at time when US refining capacity has already been reduced, said Tom Kloza, chief oil analyst for the Oil Price Information Service."They're not going to have all systems go for a couple of quarters," he said.
That's mostly because the next six weeks — from right before Christmas to early February — is historically the period of lowest demand for gasoline nationwide. Winter weather and short daylight hours discourage people from driving. Wholesale gas prices were up only 2 cents a gallon to $2.19 in early trading Thursday."Fortunately we don't need the gasoline [from Baytown] for the next six weeks," Kloza said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Texas abortion law spurs copycat measures, from guns in California to critical race theory in FloridaAfter the U.S. Supreme Court let stand a Texas 'vigilante' antiabortion law, governors on the left and right call for similar schemes targeting firearms and school instruction.
Read more »
Texas A&M backs out of Gator Bowl after Covid outbreak leaves team without enough playersTexas A&M suddenly ended its season on Wednesday by backing out of the Gator Bowl, citing injuries and a Covid-19 outbreak. The Aggies had been set to play Wake Forest a week from Friday.
Read more »
Fire erupts at Exxon's Baytown, Texas plant, at least four taken to hospitalThree people were flown to hospital and a fourth taken by ambulance when a fire erupted on Friday at Exxon's Baytown, Texas refining and petrochemical complex, which houses a chemical plant, an olefins plant and a 560,500 barrel-per-day oil refinery.
Read more »
Injuries reported after an explosion at the ExxonMobil facility in Baytown, TexasLaw enforcement officials were on the scene of a 'major industrial accident' at the ExxonMobil plant in Baytown, Texas, early Thursday, officials said.
Read more »
4 injured when large fire breaks out at Texas refinery | AP NewsBAYTOWN, Texas (AP) — Crews were working to extinguish a large fire at a Houston-area refinery that broke out early Thursday, injuring four people. The fire started at about 1 a.m. at ExxonMobil's refinery in Baytown, which is about 25 miles (40 kilometers) east of Houston.
Read more »
Several people injured after fire at Exxon oil refinery in TexasSeveral people injured in a fire at an ExxonMobil oil refinery in Texas after what officials and local residents suggested may have been an explosion.
Read more »