2025 opens with fire and ice for US refiners

Oil Markets

US refiners have had a dramatic start to the new year, facing wintry blasts on the East Coast and devastating wildfires on the West Coast. Plummeting transportation fuel demand in Southern California, strong heating fuel demand in the Northeast, and cheap blending components in the Gulf Coast have created a balancing act for producers and shippers of gasoline and distillates -- and consumers pay the price.

Jeff Mower discusses the weather events, seasonal supply and demand, price movements, and more with senior downstream editor Janet McGurty, Americas light ends manager Sarah Hernandez and Americas middle distillates manager Jordan Daniel.