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UK-based PR agency
A large fire at the Philadelphia Energy Solutions (PES) oil refinery in Philadelphia has halted gasoline production at the complex.
Mark Broadbent, principal analyst, North America refining said: “Gasoline inventories are already low and this will put additional pressure on the system. However, at this stage it is difficult to gauge the full impact of the fire. The duration and magnitude of the market impact will be determined by the extent of the damage, how quickly the refinery can recover, and how much other refineries increase production to fill market demand.”