• 14 hours Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 15 hours Oil Gains Spur Growth In Canada’s Oil Cities
  • 16 hours China To Take 5% Of Rosneft’s Output In New Deal
  • 16 hours UAE Oil Giant Seeks Partnership For Possible IPO
  • 17 hours Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 18 hours VW Fails To Secure Critical Commodity For EVs
  • 19 hours Enbridge Pipeline Expansion Finally Approved
  • 20 hours Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 20 hours OPEC Oil Deal Compliance Falls To 86%
  • 2 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 2 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 2 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 2 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 2 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 2 days Aramco Says No Plans To Shelve IPO
  • 4 days Trump Passes Iran Nuclear Deal Back to Congress
  • 5 days Texas Shutters More Coal-Fired Plants
  • 5 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 5 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 5 days Chevron Quits Australian Deepwater Oil Exploration
  • 5 days Europe Braces For End Of Iran Nuclear Deal
  • 5 days Renewable Energy Startup Powering Native American Protest Camp
  • 6 days Husky Energy Set To Restart Pipeline
  • 6 days Russia, Morocco Sign String Of Energy And Military Deals
  • 6 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 6 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 6 days India Needs Help To Boost Oil Production
  • 6 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 6 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 6 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 6 days District Judge Rules Dakota Access Can Continue Operating
  • 7 days Surprise Oil Inventory Build Shocks Markets
  • 7 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 7 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 7 days Chinese Teapots Create $5B JV To Compete With State Firms
  • 7 days Oil M&A Deals Set To Rise
  • 7 days South Sudan Tightens Oil Industry Security
  • 7 days Over 1 Million Bpd Remain Offline In Gulf Of Mexico
  • 8 days Turkmenistan To Spend $93-Billion On Oil And Gas Sector
  • 8 days Indian Hydrocarbon Projects Get $300 Billion Boost Over 10 Years
Can Deep Water Wind Farms Power The World?

Can Deep Water Wind Farms Power The World?

A recent study suggests that…

Oil Markets Fear Iraqi Escalation

Oil Markets Fear Iraqi Escalation

The military operation by Iraqi…

Panic Grips Eastern U.S. With Gasoline Supply Shortage On Horizon

Pipeline

A gasoline pipeline that was shut down for repairs after it leaked last week may threaten the regular supply of the fuel for 50 million people in the eastern U.S. as the deadline for its restart was postponed for next week.

The pipeline, operated by Colonial Pipeline Co., is the main artery between the Gulf Coast refineries and the eastern states, and the largest gasoline pipeline in the country. It carries 1.3 million barrels of the fuel a day.

Line 1, the one that leaked, runs from Texas to North Carolina. The leak occurred about the halfway mark between Houston and Greensboro. Initially, Colonial Pipeline said it will be ready to restart it this weekend, but later it put off the date to next week. The company blamed the delay on bad weather.

Fuel suppliers are finding alternative ways to deliver gasoline to end-consumers, including shipping it by sea and trucks, and loading from storage terminals that are few and far between. Colonial Pipeline itself has re-routed some gasoline to a pipeline usually used for jet fuel and diesel. Whatever they do, however, according to Bloomberg, the amount that can be shipped via these alternative routes and means will not get even close to the 1.3-million barrel capacity of Line 1.

All this has led to three state governors – of North Carolina, Alabama, and Georgia – temporarily amending requirements for the amount of oil products that can be transported by trucks. The Environmental protection Agency also joined the panic and suspended for the time being its requirements on fuel quality.

One fuel distribution company servicing an area spanning from Mississippi to Maryland warned fuel retailers to try to save fuel next week and be quick about placing orders lest the gasoline runs out before it gets to them.

Prices are expected to jump by some US$0.15 a gallon, according to a GasBuddy analyst quoted by Bloomberg. Gasoline futures gained US$0.0687 yesterday on Nymex, and in electronic trade today around 6:30 AM EDT, futures were changing hands at US$1.4297 a gallon.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News