ExxonMobil has restarted the gasoline-producing fluid catalytic cracking unit (FCCU) at its massive Beaumont, Texas, refinery, two days after an unexpected shutdown temporarily disrupted operations, according to sources familiar with the plant. The 120,000-barrel-per-day FCCU went offline Tuesday night following a malfunction, prompting flaring visible across the refinery complex. The company notified the Texas Commission on Environmental Quality that flaring would continue for roughly 24 hours. Exxon con ...

November WTI crude oil (CLX25) on Friday closed down -2.61 (-4.24%), and November RBOB gasoline (RBX25) closed down -0.0622 (-3.30%). Crude oil and gasoline prices sold off sharply on Friday, with crude falling to a 5-month nearest-futures low and gasoline sinking to a 4.5-year low.  Crude prices plunged on Friday after stocks sold off on renewed trade tensions with China when President Trump threatened a “massive increase” of tariffs on Chinese goods, citing recent “hostile” export controls on rare-earth ...

Exxon Mobil restarted the gasoline-producing fluidic catalytic cracking unit on Thursday at its 612,000-barrel-per-day Beaumont, Texas, refinery, people familiar with plant operations said. ...

Bank of America Institute is out with its consumer checkpoint for October. Debit and credit card spending increased by 2% year-over-year. That was actually the largest increase since December of 2024.Gains were up on a month-over-month basis as well. And joining us right now for a closer look is Liz Everett Chrisberg. She is the head of Bank of America Institute.Um Liz, this is really interesting because just this week we got NRF data that suggested the consumer actually slowed down in September. Your data ...

California is well known for its high fuel prices and strict environmental regulations, but a string of upcoming oil refinery shutdowns—exacerbated by a massive fire at a huge Chevron plant—threatens to spike the state’s sky-high prices further and force the state to import much more oil from Asia.The upcoming closures by refining giants Phillips 66 and Valero Energy have triggered an about-face from Democratic Gov. Gavin Newsom and state regulators to try to keep the fuel complexes open after years of rule ...

November WTI crude oil (CLX25) on Wednesday closed up +0.82 (+1.33%), and November RBOB gasoline (RBX25) closed up +0.0156 (+0.82%). Crude oil and gasoline prices on Wednesday settled higher.  Wednesday's rally in the S&P 500 to a new record high demonstrated confidence in the economic outlook, which was supportive of energy demand and crude prices.  Crude prices also had carryover support from Sunday when OPEC+ agreed to a smaller-than-expected increase in its crude production levels.  Gains in crude wer ...

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Key Takeaways CVX is working to restart key El Segundo refinery units after a major fire disrupted output.The refinery's partial shutdown sparked a 33-cent jump in jet fuel prices across Southern California.Investigations are underway as Chevron restores operations and stabilizes regional fuel supplies.Chevron Corporation (CVX) is reportedly working to restart several processing units at its massive El Segundo refinery following a fire that forced partial shutdowns last week. The refinery, located near Los ...

November WTI crude oil (CLX25) today is up +1.04 (+1.68%), and November RBOB gasoline (RBX25) is up +0.0187 (+0.99%). Crude oil and gasoline prices are moving higher today.  Today's rally in stocks shows confidence in the economic outlook that is supportive of energy demand and crude prices.  Crude prices also have carryover support from Sunday when OPEC+ agreed to a smaller-than-expected increase in its crude production levels.  Gains in crude are limited today as the dollar index (DXY00) rallied to a 1. ...

November WTI crude oil (CLX25) on Tuesday closed up +0.04 (+0.06%), and November RBOB gasoline (RBX25) closed down -0.0077 (-0.40%). Crude oil and gasoline prices on Tuesday settled mixed.  Crude prices rose on carryover support from Sunday when OPEC+ agreed to a smaller-than-expected increase in its crude production levels.  Gains in crude were limited on Tuesday due to a stronger dollar, as the dollar index (DXY00) rallied to a 1.5-week high.  Additionally, Saudi Arabia's unexpected decision to maintain ...