Oil Tumbles Amid Speculation Up To 30% Of US Refining Capacity Could Be Shut
by Tyler Durden
Aug 28, 2017 11:03 AM
WTI tumbles below $47 as negative sentiment about excess crude supply in light of extended refiners shutdowns grows, and Wall Street piles on with more detailed estimates about Harvey's impact on US oil and refinery production.
As oil slides, crack spreads have stabilized near the highs of the session, on concerns about gasoline availability, with Tudor Pickering saying that crack spreads could continue to rise in coming weeks in other U.S. regions served by the Gulf Coast refining center.
http://www.zerohedge.com/news/2017-08-28/oil-tumbles-amid-speculation-30-us-refining-capacity-could-be-shut
