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Puede cancelar su suscripción a estas actualizaciones en cualquier momento. Argus gestiona la información personal de acuerdo con nuestra Política de privacidad.Marathon Petroleum chief executive Gary Heminger expects midcontinent refiners to put new pressure on east coast competitors, he said today on the sidelines of the independent refiner's analyst day.
The company is seeking pipeline access to move refined products and NGLs out of its midcontinent system to the New York Harbor.
US Gulf Coast refiners have traditionally pressured the east coast, but pipeline access between the regions is operating effectively at full capacity.
Houston, 30 April (Argus) — US independent refiner Valero has stopped producing fuels at its 145,000 b/d Benicia refinery, the company said today. Valero "ceased operation of the fuel production units" after idling processing units through a phased approach in the first three months of 2026, the company said. Valero first informed the California Energy Commission in April 2025 of its plan for the Benicia refinery. The company has said that California's regulatory and enforcement environment is the most stringent and difficult in North America. The Benicia closure, in addition to the shutdown last year of Phillips 66's 139,000 b/d Los Angeles refinery, has caused California to lose 17pc of its refining capacity, triggering concerns about the state's tight and often volatile oil products market and the impact on the western US region. Valero said previously that it plans to import additional gasoline volumes in the near term to meet contractual supply obligations. California has become increasingly dependent on fuel imports following the refinery closures. Valero reported a first quarter depreciation expense of about $100mn related to the Benicia shutdown. By Eunice Bridges Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Singapore, 30 April (Argus) — Brent crude futures rose by 7pc to a four-year high in Asian trading today, on the prospect of a lengthy closure of the strait of Hormuz. The front-month June Brent contract on the Ice exchange traded as high as $126.41/bl, up by more than $8/bl from the previous close, before falling back to $123.65/bl at 13:00 Singapore time (05:00 GMT). Today's high takes gains in June crude futures to almost 14pc since the close on 28 April, after prices rose by $6.77/bl yesterday. The increase in front-month prices comes ahead of the expiry of the June Brent contract today. The July contract settled at $110.44/bl yesterday, around 6.5pc lower than the June settlement. Gains in the Nymex front-month June crude contract were more subdued today, with prices rising by as much as 3.2pc or $3.41/bl to a high of $110.29/bl. Prices were pushed higher by the prospect of a continued supply crunch, as well as a report from US news agency Axios that president Donald Trump is considering resuming military attacks against Iran. US Central Command will brief Trump on new military options later today, the report said. Trump and key cabinet members discussed the possibility that the blockade on the strait of Hormuz might remain for "months" during a meeting with energy executives on 28 April, the White House said. The meeting marks the latest attempt by the Trump administration to prepare for extended disruptions to global energy markets, if negotiations with Iran are unable to quickly re-open the strait of Hormuz. US treasury secretary Scott Bessent hosted the meeting with the executives, which was also attended by US vice-president JD Vance and White House chief of staff Susie Wiles. "They discussed the steps President Trump has taken to alleviate global oil markets and steps we could take to continue the current blockade for months if needed and minimize impact on American consumers," the White House said. By Rhalain Reyes and Kevin Foster Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Houston, 29 April (Argus) — An asphalt tank ruptured on Wednesday afternoon at a Martin Asphalt facility in the city of South Houston, Texas, resulting in one fatality. Video from the scene by a local television news station showed a partially collapsed tank and liquid asphalt flooding a large part of the facility as well as flowing out of the grounds and over a nearby road. The Houston Fire Department's Public Information Office confirmed the rupture resulted in a fatality. The Harris County Fire Marshal's Office reported the incident and noted the possible fatality at 4:36pm via a post on X. The South Houston Fire Department as well as Houston Fire Department hazmat and rescue units responded to the scene. Martin Asphalt did not immediately respond to a request for comment. The company produces asphalt for paving and roofing applications, along with numerous specialty asphalt blends. By Angelina Contreras Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Updates with Trump's comments London, 29 April (Argus) — Algeria, Russia and Kazakhstan have reaffirmed their commitment to Opec+ after the UAE's decision to quit the alliance. The UAE said on Tuesday it would withdraw from both Opec and the wider Opec+ group from 1 May, saying it wants greater freedom to respond to global oil demand in line with its national interest. The move has prompted speculation over the future cohesion of Opec and Opec+. The UAE's departure reduces the group's spare production capacity and may weaken its ability to manage supply and demand balances when the strait of Hormuz reopens. Algeria, the first Opec member to respond publicly, said it "consistently and firmly reaffirms its commitment" to Opec and Opec+, describing them as "essential frameworks for the stability of the global oil market". Russia, a leading member of the broader Opec+ alliance, said the group would continue its work to balance global energy markets. Kremlin spokesman Dmitry Peskov said Moscow still views Opec+ as an effective mechanism for managing market stability. "We still believe in Opec+ as a structure that helps balance the global energy markets. We hope that the structure will continue its work, and we will continue our contacts within this structure with our partners," Peskov said, according to state news agency Tass. Kazakhstan also said it had no plans to change its relationship with Opec+, according to the country's energy ministry. "They're having some problems in Opec," Trump told reporters on Wednesday, adding that UAE president Sheikh Mohammed bin Zayed al-Nahyan "maybe wants to go his own way". Trump described the UAE's departure from Opec as "great" and said that "ultimately, it's a good thing for getting the price of gas down, getting oil down, getting everything down". By Aydin Calik and Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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