31 Aug '17, 4am

Sep #NYMEX RBOB futures jump 6% as #Harvey knocks out Port Arthur refiners

September NYMEX RBOB futures soared by more than 6% in Asian morning trade Thursday, as Harvey, which was downgraded to a tropical depression, still continued to impact US Gulf Coast refinery output. While some Texas refiners were beginning to restart operations Wednesday as Harvey moved into Louisiana, others were bringing plants down, causing a further reduction in available refining capacity. Motiva, Total and Valero shut their Port Arthur, Texas plants, although Valero was preparing to restart its Corpus Christi and Three Rivers refineries and Marathon was restarting its Texas City plant. At 11:50 am Singapore time (0350 GMT), NYMEX September RBOB was up 11.54 cents (6.12%) from Wednesday's settle at $2.0001/gal, while NYMEX September ULSD was up 1.17 cents (0.7%) to $1.6855/gal. The front-month NYMEX RBOB contract was now at highs not seen since July 2015, having clim...

Full article: https://www.platts.com/latest-news/oil/singapore/sep-nyme...

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