BP Refinery Blast: Euro gasoline spot prices hit new high
24 March 2005 14:05 [Source: ICIS news]
LONDON (CNI)--European gasoline barge prices soared to new record highs on Thursday following yesterday's serious explosion at BP's Texas City oil refinery on the US Gulf.
A deal was confirmed at $521/tonne FOB (free on board) Amsterdam/Rotterdam in early afternoon trading as gasoline values reacted to the fatal blast at the refinery's isomerisation unit.
Trader Northville sold the summer grade parcel to Norwegian refiner Statoil for 1-9 April loading. The previous all time high trade was $510/tonne for winter spec on Tuesday to oil major Total.
Fourteeen people, all believed to be contractors' staff, were confirmed dead and some 70 were injured in the explosion at the 470,000 bbl/day Texas City refinery. Adjacent facilities at the huge petrochemicals complex were also likely to have been affected, a company spokesman told CNI. The 320,000 tonne/year fluid catalytic cracker (FCC) was rumoured to have been shut but this could not be confirmed.
By: Magnus Berge
+44 208 652 3214
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