Hurricane Sandy-Related Energy News: Sandy Dumps Fuel Into New Jersey Waterway
Plus, oil prices rise in the hurricane's wake.
This column highlights the most interesting and useful business and financial commentary related to energy and Hurricane Sandy's aftermath from around the Web. For more energy news, please click here.
The Huffington Post
Link: Arthur Kill Oil Spill: Hurricane Sandy's Surge Dumps Diesel Into New Jersey Waterway
“Workers continued to clean up diesel Wednesday night that was part of almost 350,000 gallons of fuel that spilled as a result of superstorm Sandy.
“The Associated Press reported that the spill happened Monday night after a tank ruptured at a storage facility owned by Motiva Enterprises LLC, a joint venture of Shell (NYSE:RDS.A)and Saudi Refining Inc. Diesel spilled into the Arthur Kill, a narrow waterway separating New Jersey and Staten Island, according to the AP.”
Link: Oil Prices Rise as US Refineries Restart After Hurricane Sandy
“The restart of refineries in the storm-hit northeastern United States gave a small boost to crude oil prices on Thursday.
“By early afternoon in Europe, benchmark oil for December delivery was up $.14 to $86.38 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose $.56 to finish at $86.24 a barrel in New York.”
Link: Oil Trims Biggest Monthly Decline Since May After Storm
“Oil rose, trimming the biggest monthly decline since May, as refineries started resuming operations after the Atlantic superstorm Sandy moved away from the US East Coast.
“West Texas Intermediate futures gained as much as 1.1% after advancing 0.2% yesterday. Philadelphia Energy Solutions’ 355,000 barrel-a-day Pennsylvania refinery is restoring operations and NuStar Energy LP's (NYSE:NS) 74,000 barrel-a-day plant in Paulsboro, New Jersey, will be at full production tomorrow, the companies said. Seven refineries with a total capacity of 1.29 million barrels a day had shut or reduced operations because of Sandy.”