Energy prices were headed lower, yesterday, before the sell-off was derailed by a reported explosion at Total’s large Antwerp refinery. The explosion at the 360,000 bpd killed a worker. Boiling oil remains a very dangerous business. Operations at the refinery have returned to normal except for the gasoline unit, which remains affected. Brent crude oil prices turned back negative, quickly, in greater reaction to news that more of Libya’s production was returning to the market. The crack spread did widen, especially the gasoil crack. Gasoil was down fractionally versus Brent’s more than 1% decline.
Energy Overview — TotalView™ of the Energy Markets