• TAC - The Arnold Companies
The Arnolds Companies

Chevron Shutters Pascagoula Refinery Ahead Of Storm

Tuesday, Sep 15 2020
Market Talk

It’s a mixed bag again this morning with diesel hanging back while gas and crude oil futures enjoy moderate buying. Crude oil futures seem to be leading the way so far, showing gains of over one percent, prompt month RBOB is up only 0.4 percent while diesel sags -0.4 percent.

Hurricane warnings surrounding the New Orleans area have been relaxed to tropical storm warnings, as Sally shifts eastward, sparing the cluster of refineries on the Louisiana coast. Chevron has shuttered its 330,000 bbl/day Pascagoula refinery ahead of the storm’s projected landfall late Wednesday. No word yet from Shell’s Saraland refinery which also looks to be in Sally’s path.

The EPA has announced it will reject the majority of the remaining retroactive biofuel waivers that were pending review, leaving only those lucky few that received waivers in the past able to receive them going forward. Current year ethanol RIN prices were up around 2.5 cents after the ruling.

We are seeing some buying this morning despite the International Energy Agency’s revised demand estimates. The IEA slashed its anticipated global oil demand growth by 8.5 million barrels per day in its monthly report published yesterday. Despite marked improvements in the handling and control of the COVID-19 virus, some think we haven’t seen the entirety of its market impact.

Click here to download a PDF of today's TACenergy Market Talk.

TAC - The Arnold CompaniesTACenergyTAC AirKeystone Aviation

Latest Posts

Keystone Aviation Has Mastered Welcoming New Charter Customers
How Keystone Aviation Maintains Clean and Sanitized Charter Aircraft
ENR Texas & Louisiana Announces 2020 Best Projects Winners
The Traveler’s Guide to Empty Leg Flights


Latest Posts


The Arnold Companies
  • About
  • News & Views
  • Social Media
  • Careers
  • Contact Us
  • Supply
  • Customer Login
  • Apply For Credit
  • Market Talk Updates
  • Contacts
  • Blog
  • Social Media
Find Your Next Great Role With TAC.
Explore Careers
  • Privacy Policy
  • Terms of Use
  • Employee Login
TAC - The Arnold Companies © 2020. All Rights Reserved.