Valero Energy Corp (VLO.N), opens new tab has partially restarted its 380,000 barrel-per-day Port Arthur, Texas refinery following a March 23 explosion and fire, said two people familiar with plant operations.
Empty supertankers have left Asia en route to the U.S. via the Cape of Good Hope in one of the biggest queue of vessels ever seen at sea, as Asian buyers rush to load U.S. crude to replace part of the supply lost in the Middle East.
Curious Minds Corner
Why did early oil drillers measure crude in 42-gallon whiskey barrels, and does that standard still rule today?
Barrels were reused whiskey containers that held 42 gallons without leaking; yes, it’s the global standard for pricing oil today.