Oil Price Information Service


The planned closure of Sunoco’s Philadelphia refinery, which accounts for a quarter of the US East Coast’s capacity, looks set to constrain supplies of diesel, heating oil, and perhaps gasoline, while pushing prices higher.

The projected shutdown, due to take effect in July if no buyer is found, was highlighted by the Energy Information Administration in a February 27 report saying petroleum product markets in the Northeast could be “significantly impacted” if the closure goes ahead. Keep reading →


Fresh hopes for a resumption in Libyan oil supplies may drive world crude oil prices lower in coming months but that won’t begin to happen until the country’s leader Muammar Gadaffi is finally driven from power, analysts said.

Prices for the US benchmark West Texas Intermediate crude oil contract edged higher Tuesday morning after the reappearance of Gadaffi’s son Seif El-Islam before western journalists–despite rebel claims that the dictator’s heir apparent had been captured–indicating that rebels still did not control the capital Tripoli. Keep reading →