Gulf Gasoline at 2-Week High on Motiva Port Arthur Outage
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Gasoline strengthened on the Gulf Coast, reaching the the highest level versus futures in more than two weeks, after a power failure shut units at Motiva Enterprises LLC’s Port Arthur oil refinery in Texas.
Most process units at the refinery were shut yesterday as power and steam were lost during a storm, said Kimberly Windon, a Motiva spokeswoman in Houston. While power has been restored, “it is too early to tell when the units will be restarted, as this will be done only when it is safe to do so,” Windon said in an e-mail.