Latest news with #NathanRisser
Bloomberg
3 days ago
- Business
- Bloomberg
US Driving Season Starts Strongly for Oil Refiners
Welcome to our guide to the commodities markets powering the global economy. Today, Houston-based reporter Nathan Risser looks at how gasoline demand is shaping up for the key US summer months. The driving season in the US officially began Monday with the Memorial Day weekend. The initial data show more Americans hit the road compared with last year, a good sign for gasoline demand and the companies that make the fuel.
Bloomberg
12-05-2025
- Automotive
- Bloomberg
California Drivers Are Paying Up as Refineries Disappear
Welcome to our guide to the commodities markets powering the global economy. Today, reporter Nathan Risser explains why California drivers are likely to keep paying more at the pump than other Americans. For analysis on US President Donald Trump's trip to the Middle East, read this. Californians are accustomed to paying the highest gasoline prices in the US. That trend likely will continue because of the state's reliance on a dwindling fleet of oil refineries.
Mint
24-04-2025
- Business
- Mint
Trade War Is Diverting US Petroleum Gas Cargoes Away From China
Multiple carriers of petroleum-based gases traveling from the US to China have begun diverting to other countries due to the intensifying trade war between the world's two largest economies. Four cargoes of propane have shifted their routes from China to alternate destinations over the past week, bound for countries including Japan and South Korea, according to a report from analytics firm Vortexa. At least one cargo of ethane — which is used in plastics production — has been scrapped entirely, according to a person familiar with the matter. The diversions show the disruption to supply chains caused by the trade fight between the US and China, historically a major buyer of US ethane and petroleum gases. President Donald Trump has levied 145% tariffs on most US imports from China, and the US Trade Representative more recently imposed steep fees on Chinese-linked vessels seeking to access American ports. Eight Very Large Gas Carriers carrying US LPG were still on course for China as of this week, while the four diversions have all been recorded since April 17, according to Vortexa. Diverted vessels include the Zakher, Maple Gas, BW Gemini and Eiger Explorer, all departing from the US Gulf Coast. The G. Arete, a propane carrier, diverted to South Korea from China, while a chemical tanker named STI Notting Hill is also rerouting to South Korea, Vortexa said. The US exported about 310,000 barrels of propane to China per day in 2024, double the volume from a year earlier, according to East Daley Analytics. Spot ethane shipments may continue to be affected by the trade war, while committed cargoes are harder to unwind, the person said. Asia-bound flows of ethylene — used in plastics and industrial solvents — have already slowed because of seasonal factors but may be further reduced by the tariffs, the person said. With assistance from Nathan Risser and Robert Tuttle. This article was generated from an automated news agency feed without modifications to text. First Published: 25 Apr 2025, 03:36 AM IST
Yahoo
26-03-2025
- Business
- Yahoo
Colonial Pipeline Responds to Protest Against Pipeline Changes
(Bloomberg) -- Colonial Pipeline Co. defended a proposal for operational changes on its fuel network after objections from oil majors Exxon Mobil Corp. and Chevron Corp. and commodities trader Trafigura. They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Why Did the Government Declare War on My Adorable Tiny Truck? Chicago Transit Faces 'Doomsday Scenario,' Regional Agency Says LA Faces $1 Billion Budget Hole, Warns of Thousands of Layoffs Libraries Warn They Could Be 'Cut off at the Knees' by DOGE Colonial, which operates the largest gasoline pipeline in the US, said the changes 'will enhance pipeline integrity and reliability and create more capacity for shippers' in a Monday filing with the US Federal Energy Regulatory Commission. According to the filing, the proposed changes would mitigate risks associated with 'pressure cycling,' which occurs when changes in internal pressure lead to stress in the pipe wall. By transporting fewer products on the pipeline route, among other changes, 'Colonial will experience fewer segment slowdowns and shutdowns (and the associated restarts) that more frequently arise when transporting multiple products in the same cycle,' the company said in the filing. Trafigura, Exxon Mobil, Chevron and several other refiners previously filed motions asking the regulator to block Colonial's proposed changes. Among the potential changes are halting the transport of volatile grade five gasoline on the maxed-out pipeline and boosting capacity by several thousand barrels a day. Shippers on the system, which transports about 2.5 million barrels of fuel a day from the refinery belt of Texas and Louisiana to demand centers in the East Coast, say the changes will contribute to operational hurdles and higher costs. Large swaths of the East Coast, where several refineries have shuttered in recent years, depend on Colonial's pipeline to meet fuel demand, giving it an outsized effect on the domestic fuel market. If approved, the changes would likely take effect in September. --With assistance from Nathan Risser. The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? Google Is Searching for an Answer to ChatGPT A New 'China Shock' Is Destroying Jobs Around the World How TD Became America's Most Convenient Bank for Money Launderers Tesla's Gamble on MAGA Customers Won't Work ©2025 Bloomberg L.P. Sign in to access your portfolio
