Perfectly timed incompetences as usual and rewarded big time as usual for said incompetences:
9-25-2014
http://www.bloomberg.com/news/2014-...-for-third-day-on-economy-gasoline-gains.html
Gasoline Surges to September High Amid Refinery Outage
Gasoline futures surged to the highest level this month on concern refinery outages will reduce production, threatening higher prices at the pump.
Gasoline in New York rallied following a reported outage at Irving Oil Corp.s Saint John, New Brunswick, refinery, which exports about half of its production to the Northeast market.
Irvings Saint John refinery shut an alkylation unit on Sept. 23, Genscape reported yesterday. The No.3 146,000-barrel-a-day crude unit and the 70,000 barrel fluid catalytic cracker remain shut. The refinery exports half of its refined products to the U.S. Northeast.
The refinery is the ultimate swing producer for light product in the Northeast, said Tom Finlon, Jupiter, Florida-based director of Energy Analytics Group LLC. If they lose production, the market gets very tight. That can strengthen the market very quickly.
Futures have jumped 7.9 percent since Sept. 12. Retail gasoline climbed for a third day yesterday, according to AAA.
The volume of all futures was 52 percent above the 100-day average.
Exxons Beaumont, Texas, refinery is running at reduced rates as two fluid catalytic crackers are shut for unplanned maintenance.
Underlying U.S. gasoline fundamentals are tight largely due to significant FCC outages, and so the rally has fundamental legs, Amrita Sen, chief oil analyst at consultant Energy Aspects Ltd., said in a report. The strength in Gulf Coast gasoline prices is suggesting there is potentially some more room for RBOB to rally.
9-25-2014
http://www.bloomberg.com/news/2014-...-for-third-day-on-economy-gasoline-gains.html
Gasoline Surges to September High Amid Refinery Outage
Gasoline futures surged to the highest level this month on concern refinery outages will reduce production, threatening higher prices at the pump.
Gasoline in New York rallied following a reported outage at Irving Oil Corp.s Saint John, New Brunswick, refinery, which exports about half of its production to the Northeast market.
Irvings Saint John refinery shut an alkylation unit on Sept. 23, Genscape reported yesterday. The No.3 146,000-barrel-a-day crude unit and the 70,000 barrel fluid catalytic cracker remain shut. The refinery exports half of its refined products to the U.S. Northeast.
The refinery is the ultimate swing producer for light product in the Northeast, said Tom Finlon, Jupiter, Florida-based director of Energy Analytics Group LLC. If they lose production, the market gets very tight. That can strengthen the market very quickly.
Futures have jumped 7.9 percent since Sept. 12. Retail gasoline climbed for a third day yesterday, according to AAA.
The volume of all futures was 52 percent above the 100-day average.
Exxons Beaumont, Texas, refinery is running at reduced rates as two fluid catalytic crackers are shut for unplanned maintenance.
Underlying U.S. gasoline fundamentals are tight largely due to significant FCC outages, and so the rally has fundamental legs, Amrita Sen, chief oil analyst at consultant Energy Aspects Ltd., said in a report. The strength in Gulf Coast gasoline prices is suggesting there is potentially some more room for RBOB to rally.