Financial Times of 30/1/13.

Rocky Bay

Yesterdays Financial Times notes the closing of the Hess Corporation refinery located in Port Reading, New Jersey which is roughly west of the NYC borough of Staten Island. The refinery produces about 50,000 barrels of petrol per day mainly for the New Jersey/New York market. It is the latest refinery to be closed on the east coast of America in the last few years, Hess has also closed a very large facility in the Caribbean putting more strain on the petrol supply on the east coast. Refineries in the mid-west will not be able to supply the east coast markets due to the fact that the pipelines flowing to the east are already running at capacity. "The price of European petrol, also climbed, according to market participants, in expectation of European refiners meeting some of the shortfall in demand in the Northeast region of the US". Can we expect to see more westbound loads to the east coast of America from......Whitegate?

goldie fish

Demand for petrol is decreasing, as most vehicles move to diesel. There is a surplus of Petrol Refineries, and a deficit of Diesel refining. Products tankers have been shipping diesel from Europe to the US for the last few years.