Refining margins are on the rise as more plants undergo outages due to accidents or delayed maintenance due to the pandemic.
Canary CEO Dan Eberhart discusses the rise in oil and gas prices across the U.S. and the impact of Biden's energy agenda on 'Varney & Co.'According to analysts, that sendsA key gauge of refiner profits that measures the difference between crude oil prices and selling prices of finished products touched $42.41 on Tuesday, the highest since October. The five-year January average is $15.56, an analysis of Refinitiv Eikon data showed.
The outages have pushed up gasoline prices in Texas and Oklahoma this year ahead of what is expected to be a heavier than usual turnaround season for refineries. The Baytown Exxon gas refinery produces the more processed oil than any other facility in the United States.in Texas hit about $3.07 a gallon on Tuesday, up almost 44 cents from a month ago, according to the AAA motor group. Among the outages is a diesel-producing unit at PBF Energy's Chalmette, Louisiana, the refinery was shut following a fire on Saturday, and ExxonMobil said Monday it will perform planned maintenance on several units at its Baytown, Texas, petrochemical complex.
Storage tanks are seen at Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil. Picture taken with a drone.
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.
U.S. oil refining margins hit 3-month high as plant outages riseU.S. oil refining margins on Tuesday hit a three-month high and are likely headed higher, analysts said, as unplanned refinery outages weigh on already-tight fuel supplies.
Read more »
Honda creating new division and refining operations to catch up on EVs - AutoblogHonda moved slowly on EVs at first, but appears to be intensifying its efforts with partnerships and reorganizations.
Read more »
Deer Park, Texas refining facilities report upsets following tornadoShell on Tuesday said it was experiencing an incident at its Deer Park chemicals facility south of Houston, Texas, following severe weather, according to a company tweet, after a tornado was reported in the area.
Read more »
Texas refining facilities report upsets following tornadoShell on Tuesday said it was experiencing an incident at its Deer Park chemicals facility south of Houston, Texas, following severe weather, according to a company tweet, after a tornado was reported in the area.
Read more »
Major refineries outside Houston suffer upsets after tornado reported in the areaThe severe string of storms knocked out power to the refining hub and forced facilities...
Read more »
Asteroid mining startup AstroForge to launch first space missions this yearAsteroid-mining startup AstroForge Inc. plans to launch its first two missions to space this year as it seeks to extract and refine metals from deep space.
Read more »