WTI/RBOB Tumble As Valero Says Refinery Startup Underway
RBOB is tumbling near $1.60 handle after headlines reported Valero saying that startup is underway at its Three Rivers refinery and its Corpus Christi refinery, both in Texas, according to a statement from co. spokeswoman Lillian Riojas.
Blomberg reports that the company is working to ensure availability of critical transportation and logistics infrastructure to resume all operations. Houston and Texas City, Texas, facilities continue to operate. Port Arthur, Texas, refinery shut because of flooding and potential power supply interruption.