Two fires at large U.S. oil refineries

[Newsjock]

Source: Reuters

Global oil prices extended their slide on Monday weighed by weakening demand in Europe and Asia, while refineries in Philadelphia and Ohio were hit hard by fires over the weekend, curtailing demand for crude in the U.S.

... Refinery disruptions in Philadelphia and Ohio threaten to add to a growing glut of crude by reducing demand from two sizable plants, including the largest on the U.S. East Coast.

The disruptions also curtailed production of oil products, initially boosting prices for diesel and gasoline.

Read more: http://www.cnbc.com/id/102327926

[Hutzpa]

1. They had to set fire to the refinery just to stop the slide of crude oil.

Feel sad for those workers that will be without a job, other than that I hope the government fine then for negligence.

[Sopkoviak]

4. Refinerys don't produce crude oil

They consume it.

Shutting down a refinery would add to the glut in the supply of crude.

How the hell would setting one on fire stop the slide of crude prices?

That makes absolutely no sense.

Just my opinion of course.

[Recursion]

6. This makes the price of crude go down, not up (nt)

[pipoman]

2. Yeah...interesting how refineries don't breakdown and

Burn when crude prices are high, I'm seeing a pattern here

[Warpy]

3. I wondered why gas had jumped 20 cents a gallon around here.

Figures there's been a little corporate lightning out there.

[Brother Buzz]

5. Are oil refineries self insured?

I'm thinking some of these refineries might need to reconfigure a bit to accept a different grade of crude in a market that is shifting all over the place; to Hell with sour oil imported from Mexico, Venezuela and Canada's tar sands, when primo Brent Crude is so cheap.

[villager]

7. "Be a shame if something happened to your low gas prices, there"

n/t