• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 14 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 8 days Energy Armageddon
  • 10 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 4 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 10 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 4 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 1 day Is Europe heading for winter of discontent with extensive gas shortages?
  • 4 days The Federal Reserve and Money...Aspects which are not widely known
  • 5 days Goldman Betting on Cryptocurrencies
  • 8 days Сryptocurrency predictions
  • 13 days Putin and Xi Bet on the Global South

Breaking News:

Oil Prices Jump On Major Crude Draw

BP’s Indiana Refinery Restarts After Fire

BP Plc’s Whiting, Indiana refinery has restarted production after being idled last week due to an electrical fire, Reuters reports, citing unnamed sources close to operations.

The 435,000 barrel-per-day refinery, the largest in the Midwest, caught fire last week, leading to the shutdown of several units and a declaration of emergency across four states.

The fire impacted supplies of gasoline, diesel and jet fuel in the Midwest, with Indiana, Illinois, Michigan and Wisconsin obtaining some 25% of their fuel supply from this facility.

The outage led to a temporary lifting of a summer restriction on fuel sales–intended to head off larger shortages–by the Environmental Protection Agency.

The Whiting refinery can produce 10 million gallons (~277,000 barrels) of gasoline, 4 million gallons of diesel, and 2 million gallons of jet fuel each day; it is capable of producing enough gasoline every day to support the daily travel of 7 million cars, the refinery factsheet claims.

Markets were concerned that an outage at a key refinery such as Whiting could put upward pressure on gasoline prices that have been trending downward for weeks.

Michigan, one of the four states affected, is already set to experience the highest Labor Day gas prices since 2012, the Detroit Free Press reports. This is despite the fact that average gas prices in the state have fallen by 49 cents per gallon over the past 30 days, with decreases recorded for 10 consecutive weeks.

The national average per gallon of gasoline in the United States was down to $3.481 on Wednesday, according to AAA, compared with the year-ago average of $3.159.

Concerns remain that gasoline prices will rise again, with Secretary of Energy Jennifer Granholm saying that fuel exports are affecting domestic supplies, with gasoline supplies on the East Coast at their lowest level in almost 10 years. 

By Tom Kool for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News