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Oil report

UPDATE 3-Phillips 66 shuts Ill. refinery crude unit, sparks price rise

(Adds cash price move)

NEW YORK, April 27 (Reuters) - A power outage that shut down a crude unit at Phillip 66’s 306,000 barrel-per-day refinery in Wood River, Illinois, triggered a spike in Midwest cash gasoline prices on Wednesday, traders said.

Phillips 66 shut down a 64,000 barrel-per-day crude unit and an associated vacuum distillation unit and coker at the Illinois refinery on Tuesday after heavy storms knocked out power to the western portion of the plant, a source familiar with the plant’s operations said.

Chicago cash gasoline differentials rose 2.75 cents per gallon on Wednesday on news of the power outage, traders said.

It is still unclear when the units will be restarted, the source said.

The National Weather Service reported heavy thunderstorms, hail and high winds in the region on Tuesday.

The western section of the plant had been shut recently due to weather-related power issues, and the outage lasted a few days.

The shutdown of the units was first reported on Wednesday morning by energy industry intelligence service Genscape.

The company declined to comment on the shutdown of the units, saying it was standard policy not to discuss plant operations. (Reporting By Jarrett Renshaw; Editing by Bernadette Baum)

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