The Energy Report: Gas Line Times | investing.com – Investing.com

gas times shippers colonial pipeline
Gulf
  • Date: 18-May-2021
  • Source: Investing.com
  • Sector: Oil & Gas
  • Country: Gulf
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The Energy Report: Gas Line Times | investing.com – Investing.com

Gasoline shortages are slowly starting to ease as the Colonial Pipeline is getting back to full speed and we are seeing panic subside. While many stations are still dry, the surge of people with full gas tanks is reducing demand. Cargoes of gasoline from Europe and more supply available because of the waiver of the Jones Act, have allowed the possibility of more gas hitting eastern ports. Valero Energy Corporation (NYSE:), Refiners Marathon Petroleum (NYSE:) and Citgo all received waivers. That, along with the pipeline back up, should allow for a dip in gasoline prices at the pump.

Argus Media is reporting that Colonial Pipeline is letting shippers change where they send their refined products shipments on the system connecting U.S. Gulf coast refineries with the Atlantic coast, as the company’s nominations system has been restored following a cyberattack. When Colonial resumed service last week, it notified shippers it would not allow them to change destinations for barrels sent along the pipeline because the system used to schedule such movements were still offline. This left shippers with no way to redirect barrels to southeastern markets drained by panic buying. Over the weekend, Colonial notified shippers that they can now make nomination

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