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Brent, U.S. crude futures plunge on extended Coffeyville refinery outage
July 31, 2014 / 4:55 PM / 3 years ago

Brent, U.S. crude futures plunge on extended Coffeyville refinery outage

NEW YORK, July 31 (Reuters) - U.S. crude oil futures plunged by nearly $2 and Brent crude oil futures fell by more than $1 per barrel on news that the 115,000-barrel-per-day Coffeyville, Kansas, refinery could be down for four weeks following a July 29 fire.

CVR Refining said on Thursday that its Coffeyville refinery could be down four weeks after the fire in the facilities isomerization unit. The Coffeyville refinery receives supplies from the Cushing, Oklahoma, delivery hub.

“If refinery runs pull back, we will see rebounds in crude stocks,” said Phil Flynn, analyst at the Price Futures Group in Chicago. (Reporting by Anna Louie Sussman)

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