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Marathon In Process Of Shutting Garyville Refinery

OIL

*MARATHON IS IN PROCESS OF SHUTTING GARYVILLE REFINERY - bbg

  • Our best guess behind the >$1/bbl recent step lower in WTI , as the fire was reported much earlier but closure news appears more recent.
  • CLV3 has since lifted off a low of $78.14 to $78.85, although is still -0.25% lower on the day having reversed gains seen through London trading with the decline.
  • It helps the Brent-WTI front spread marginally widen after drifting higher through the session, latest $4.61.

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