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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    US gasoline prices rise and crude oil falls as Harvey's refineries are affected

    Rocky
    Rocky
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    US gasoline prices rise and crude oil falls as Harvey's refineries are affected Empty US gasoline prices rise and crude oil falls as Harvey's refineries are affected

    Post by Rocky Tue 29 Aug 2017, 4:09 am


    US gasoline prices rise and crude oil falls as Harvey's refineries are affected



    29/08/2017


    Gasoline prices soared to a two-year high on Tuesday, with several refineries and generators shut down by tropical storm Harvey, while US crude futures fell more than 2.5 percent as crude supplies surged.

    The stormy floods forced several refineries to stop along the US coast on the Gulf of Mexico. Sources said the Motiva refinery in Port Arthur, Texas, the country's largest refinery, was considering closing with water leaks to the complex. The sources said Motiva intends to take a final decision on Tuesday morning.

    "This flood problem may continue, which will prevent staff from reaching the facilities," said John Keldof of hedge fund Aegin Capital in New York. "Gasoline inventories may decline rapidly if there is an extended interruption."

    US gasoline futures rose 7 percent to $ 1,7799 a gallon, their highest since late July 2015 and then closed at $ 1,7123, up more than 3 percent.

    On the other hand, US crude prices fell due to refinery stoppages, which could reduce demand for crude oil.

    US crude <WTI> fell $ 1.30, or 2.7 percent, to settle at $ 46.57. Brent crude was down 52 cents, or about 1 percent, at $ 51.89 a barrel.

    West Texas's Brent discount added to $ 5.64 in deals, the highest level in two years.

    http://aletejahtv.org/permalink/178990.html

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