Fire at U.S. Toledo Refinery Has Been Put Out, PBF Energy Says
The company is looking into the cause of the incident at 11:50 p.m. local time yesterday, Olivia Summons said in an e- mail, declining to say whether the 170,000 barrel-a-day facility is operating at a reduced rate. There were no injuries, the spokeswoman said.
Gasoline extended to 10 days the longest rally since July 2009 yesterday on the New York Mercantile Exchange amid speculation that maintenance at other refineries and the planned closure of Hess Corp. (HES)’s New Jersey plant would reduce supply.
The closure of the Hess plant “comes just ahead of peak spring maintenance shutdown period for refiners,” Soozhana Choi, Deutsche Bank AG’s chief oil strategist in Singapore, wrote today in a report. The Port Reading, New Jersey plant will shut by the end of next month, Hess said on Jan. 28.
Gasoline supply in the so-called PADD 1 area, which includes New York Harbor, was 10 percent below the five-year average last week, Energy Department data showed yesterday.
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