“We are working with the Port of Houston and U.S. Coast Guard to facilitate safe delivery of crude shipments as soon as possible,” Todd Spitler, a spokesman for Exxon said.
Ultra low sulfur diesel for March delivery rose 1.11 cents, or 0.4%, to $3.1579 a gallon at 1:30 p.m. on the New York Mercantile Exchange on volume that was 31 percent above the 100- day average.
Crude options volatility rose as futures slipped below a $100 a barrel amid rising stockpiles. Implied volatility for at-the-money December options was 19.79% at 2:20 p.m. on the New York Mercantile Exchange, from 19.06% on Oct. 18.
Americans probably will be paying the lowest prices for gasoline since January 2011 by Christmas, with some drivers filling up for less than $3 a gallon.
Gasoline slid the most in seven weeks, dropping along with crude and other commodities on concern the Federal Reserve will reduce economic stimulus and as data signaled China’s growth is slowing. Crack spreads narrowed.
Gasoline sank to the lowest level since January on concern that U.S. and European economies are weakening, reducing fuel demand at the same time refineries increase output.
