economy
Oil Jumps After Explosion And Massive Fire At One Of The Largest US Oil Refineries
Shock aerial footage shows massive fire at Valero refinery in Port Arthur, Texas.
TL;DR
- An explosion and fire occurred at the Valero refinery in Port Arthur, Texas.
- The incident damaged a diesel hydrotreater unit and occurred near the fluid catalytic cracker.
- A shelter-in-place order was issued for west-side residents.
- Two nearby state highways were shut down as a precaution.
- Minor injuries were reported, but all personnel have been accounted for.
- Air quality is being monitored by multiple agencies, including the Texas Commission on Environmental Quality.
- The refinery is one of the top 10 largest in the US, processing 435,000 barrels of crude oil daily.
- The news of the fire, combined with geopolitical events, caused crude oil prices to rise.