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📍Major US oil refinery explosion -> gasoline and diesel supply tightens further
📌 Valero refinery in Port Arthur (Texas) experiences major explosion. Capacity reaches ~435,000 barrels/day - part of the largest refinery group in the US.
📌 The incident involves the diesel processing area, will certainly directly impact gasoline and diesel supply in the market
This incident will cause gasoline and diesel prices to rise faster than crude oil prices even when crude oil prices decline.