Refinery Activity News

Oil prices ended down more than 2 percent on Wednesday after hitting a 10-month low in volatile trade, as growing U.S. production and reduced Chinese refinery activity fed mounting concern over the stubborn global crude glut. U.S. crude futures settled at $42.53, down 98 cents or 2.3 percent, after touching a low of $42.13, the lowest intraday level since August 2016. Since peaking in late February, crude has dropped more than 20 percent, with only brief rallies. More than 1 million front-month crude contracts changed hands on Wednesday, far exceeding the daily average of 560,000 contracts.

American Maritime Partnership (AMP) Tells Congress That American Fleet Can Meet Additional Demand If Sunoco Refinery Closes Corrects Erroneous EIA Report. In written testimony to the U.S. Congress’ Joint Economic Committee, the American Maritime Partnership (AMP) criticized and corrected an Energy Information Administration (EIA) report that said American tank vessels may be “in short supply” if a Northeast refinery closes later this year. EIA’s assessment came in a February 2012 report titled Potential Impacts of Reductions in Refinery Activity on Northeast Petroleum Markets.

A letter to the U.S. Energy Information Administration (U.S. Department of Energy) from American Maritime Partnership disputes EIA domestic tank vessel estimates. Ms. U.S. U.S. Washington, D.C. Dear Ms. Thank you for meeting with me, leaders of the American Waterways Operators, and senior representatives of four of the leading American tank vessel companies last week. We are gathering, and will soon forward to you, detailed information about the American tank barge fleet. As you know…