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COVID-19 - News digest as of 22.06.2021

June 22/2021

1. Limetree Bay refinery to shut indefinitely

MOSCOW (MRC) -- Limetree Bay Energy will shut its St. Croix refinery indefinitely due to financial problems, the company said, after a series of operational setbacks shuttered the facility, reported Reuters. The 210,000-barrel-per-day refinery had only restarted in February after being idle for nearly a decade, but was forced to shut in May after the facility sprayed nearby neighborhoods with a petroleum mist and residents complained of breathing problems. Last month, the US Environmental Protection Agency ordered the plant shut for at least 60 days after those incidents, which also contaminated the community's water supply. The EPA also ordered the plant to install and operate 18 sulfur dioxide and hydrogen sulfide monitors on St. Croix in order to restart.

2. Crude oil futures steady in Asia due to absence of new drivers with bullish outlook supporting the market

MOSCOW (MRC) -- Crude oil futures were steady during mid-morning Asian trade June 22 in the absence of new developments, although bullish demand outlooks continue to support the market, reported S&P Global. At 11:11 am Singapore time (0311 GMT), the August ICE Brent crude futures contract was up 23 cents/b (0.31%) from the previous settle at USD75.13/b, while the NYMEX July light sweet crude contract slipped 2 cents/b (0.03%) at USD73.64b. The stability in prices this morning comes after both markers closed at landmark highs on June 21. The front month ICE Brent marker closed at USD74.90/b, the highest on record since Oct. 31, 2018, while the front month NYMEX light sweet crude marker closed at USD73.60/b, the highest since Oct. 9, 2018. Market analysts attributed the elevated crude prices to a US-led recovery in global demand.
Author:Margaret Volkova
Tags:Asia, Europe, crude and gaz condensate, medicine, COVID-19, USA.
Category:General News
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