New York-Gasoline and crude oil markets were spooked by Hess' January 18 announce- ment that its 350,000 b/d Caribbean refinery would be shut, adding to the growing list of regional plants set for closure. The Hess-PDVSA joint venture plant, to be turned into a US Virgin Islands terminal in mid- February, is the latest in a string of regional refineries set to shut. If all announced closures take effect, that will bring the US East Coast refinery capacity cut to more than 1 million b/d.
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