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Philadelphia Energy Solutions to permanently shut refinery

3 hours ago DieselGasoil Comments Off on Philadelphia Energy Solutions to permanently shut refinery
Houston — Refined products markets on both sides of the Atlantic were roiled Wednesday following news that Philadelphia Energy Solutions plans to permanently close its fire-damaged 335,000 b/d refinery. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now “While our teams include some of the most talented people in the Read More

Oil firms on back of US inventory draws, PES refinery closure

4 hours ago DieselGasoil Comments Off on Oil firms on back of US inventory draws, PES refinery closure
New York — NYMEX futures moved sharply higher Wednesday following a large US crude draw and Philadelphia Energy Solutions announcing the closure of its fire-damaged 355,000 b/d Philadelphia refinery. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX August WTI settled up $1.55 at $59.38/b, the highest the front Read More

USAC gasoline prices expected to rise this summer as PES shuts doors

4 hours ago DieselGasoil Comments Off on USAC gasoline prices expected to rise this summer as PES shuts doors
Highlights European and Indian refiners seen as winners About 150,000 b/d of gasoline components need to be replaced New York — Closure of the Philadelphia Energy Solutions refinery will raise prices for the US Atlantic Coast gasoline during this summer’s driving season, with European refiners the likely candidates to fill the supply gap left by Read More

Analysis: Export surge drives crude stocks lower, tipping US to net exporter status

5 hours ago DieselGasoil Comments Off on Analysis: Export surge drives crude stocks lower, tipping US to net exporter status
Highlights Crude exports set record high at 3.77 million b/d US flips to net petroleum exporter for third time Crude stocks plunge 12.79 million barrels to 469.58 million barrels New York — A surge in export activity to an all-time high last week flipped the US to be a net exporter of petroleum and drove Read More

Analysis: US crude exports hit new high; more Permian crude expected in Gulf

5 hours ago DieselGasoil Comments Off on Analysis: US crude exports hit new high; more Permian crude expected in Gulf
Highlights Permian-USGC crude line capacity increasing EPIC pipeline due to start in July Permian output to hit 5 million b/d by 1Q 2020 Houston — US crude oil exports are expected to remain high moving forward as a new wave of Permian Basin crude oil hits the Gulf Coast in coming months. Not registered? Receive Read More

Pieridae Energy to Purchase Shell Canada Foothills-Area Production & Assets: 28,623 BOE/d and Associated Midstream Assets, Including Three Deep-Cut Gas Plants

5 hours ago DieselGasoil Comments Off on Pieridae Energy to Purchase Shell Canada Foothills-Area Production & Assets: 28,623 BOE/d and Associated Midstream Assets, Including Three Deep-Cut Gas Plants
Highlights: Acquisition immediately accretive to the Company Another major step forward, now fully supplying Train 1 at the Goldboro LNG facility Pieridae becomes a major player in the Alberta midstream and upstream industry Shell Canada Energy to take an equity stake in Pieridae Other key stakeholders to increase their ownership positions CALGARY, Alberta, June 26, Read More

Tech boost, trade optimism lead Wall Street higher

8 hours ago DieselGasoil Comments Off on Tech boost, trade optimism lead Wall Street higher
(Reuters) – Wall Street rose on Wednesday, as technology shares gained on the back of Micron’s upbeat results, while comments from Treasury Secretary Steven Mnuchin fueled hopes that the United States and China were making progress in their trade talks. FILE PHOTO: Traders work on the main trading floor after the opening bell at New Read More

Oil prices rise more than 2% as U.S. crude, products stockpiles fall

8 hours ago DieselGasoil Comments Off on Oil prices rise more than 2% as U.S. crude, products stockpiles fall
NEW YORK (Reuters) – Oil prices rose more than 2% on Wednesday and hit their highest in about a month, buoyed by U.S. government data that showed a larger-than-expected drawdown in crude stocks as exports hit a record high, and surprise drops in refined product stockpiles. A pumpjack is seen at sunset outside Scheibenhard, near Read More

Oil prices rise 3% as U.S. crude, products stockpiles fall

10 hours ago DieselGasoil Comments Off on Oil prices rise 3% as U.S. crude, products stockpiles fall
NEW YORK (Reuters) – Oil prices rose about 3% on Wednesday and hit their highest in about a month, buoyed by U.S. government data that showed a much larger-than-expected drawdown in U.S. crude inventories as exports hit a record high, and surprise drops in refined product stockpiles. A pumpjack is seen at sunset outside Scheibenhard, Read More

Philadelphia Energy Solutions to permanently shut refinery: Philadelphia mayor

10 hours ago DieselGasoil Comments Off on Philadelphia Energy Solutions to permanently shut refinery: Philadelphia mayor
Refined products markets on both sides of the Atlantic were roiled Wednesday following news that Philadelphia Energy Solutions plans to permanently close its fire-damaged 335,000 b/d refinery. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The mayor of Philadelphia, Jim Kenney, announced Wednesday morning that PES would permanently the Read More