U.S. Refiners Seek Alternatives to Russian Oil Amid Tensions
- Two major Gulf Coast refiners look to diversify supplies
- Fuelmakers seek naphtha alternative in New York region
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Some U.S. producers of gasoline that have relied on imports of Russian oil are looking for alternative supplies amid heightened tensions in Eastern Europe.
At least two major Gulf Coast refiners are seeking to diversify their purchases of fuel oil that can be used as a feedstock to produce gasoline and diesel, according to people familiar with the matter, who asked not to be named because they weren’t authorized to speak. One trader is looking for naphtha, a component of oil that’s used in gasoline blending, from sources other than Russia, another person said.