After running below capacity about 45 days starting in July, the largest gasoline pipeline in the U.S. has restarted its practice of rationing space. The company froze shippers’ ability to nominate more fuels this month to maintain the line’s five-day cycle shipping frequency.
To be a big player in the U.S. gasoline market, it’s essential to have a gateway to the high-demand center surrounding New York City. Some traders supply that hub with foreign imports, but 1.3 million barrels a day move north on the Colonial Pipeline from the refining hub near Houston.
Last week the arbitrage, or selling opportunity for European gasoline exports to New York, fell to the lowest level since January 2016. Upcoming imports from Europe will also be stifled as the region’s largest refinery shut unexpectedly. Royal Dutch Shell Plc will attempt to restart one of two crude units at the Pernis refinery Friday.
“Inventories of gasoline have been drawing down across the East Coast and now it makes sense to take more barrels through Colonial’s pipeline,” said one analyst.
The Katie Ledecky Page
Data points from NBC Sports and FINA:
- 20 years old; Stanford sophomore
- world championships, Budapest, late July, 2017
- 1500-meter freestyle: wins by a whopping 19 seconds; already owned the world record and has the seven fastest times in history for this event
- 400-meter freestyle: Katie Ledecky, #1
- 800-meter freestyle: Katie Ledecky, #1
- 4 x 100-meter freestyle with Katie Ledecky, #1
- 4 x 200-meter freestyle with Katie Ledecky, #1
- five gold medals
Missy Franklin has the 6-gold medal record.