Large plume of smoke seen after explosion at Chalmette Refining (capacity 185kbpd), Fox reports
The explosion at Chalmette Refining is likely to disrupt supply in the energy market, particularly given its capacity of 185,000 bpd.
Qatari Foreign Ministry says the Prime Minister and Foreign Minister met with the US Vice President in Washington today; Qatar expressed the necessity for all parties to respond to the ongoing mediation efforts
CRUDE WRAP: WTI (M6) SETTLES USD 0.61 HIGHER AT USD 95.52/BBL; BRENT (N6) SETTLES USD 1.23 HIGHER AT USD 101.29/BBL
Large plume of smoke seen after explosion at Chalmette Refining (capacity 185kbpd), Fox reports
Tasnim reports that the US president claimed that talks with Iran to end the war are continuing
Fed's Goolsbee (2027 voter) says inflation is "the topic of the moment"; would be wrong to only think rate cuts are before the Fed; we have to pay attention to inflation rate when price pressures mounting
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A significant event like this could lead to increased volatility in oil prices and may invite speculative trading as market participants assess the impact on inventory levels and refinery operations.
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