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Biggest Oil Refineries in U.S. Are Going Dark Amid the Cold

  • Motiva, Exxon, Marathon halt curb fuel production in the state
  • Over 3 million barrels of capacity hit; gasoline futures jump
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Watch: The dangerously cold temperatures gripping auto-reliant Texas present a terrible dilemma for millions of residents. (Source: Bloomberg)
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After creating havoc in the power and natural gas markets, the next commodity sector causing concern in Texas is the state’s enormous oil refining industry, where installations are being forced offline by the big freeze.

The largest refineries in North America were shutting down Monday because of arctic conditions that have cut electricity, water and fuel supplies across Texas. More than 3 million barrels of daily oil-processing capacity has been idled in the wake of the record-setting cold, according to consultant Energy Aspects Ltd.