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Gasoline surges as traders eye Harvey impact on energy assets

Bloomberg Gasoline climbed to the highest level in more than two years as traders assess how quickly key Gulf Coast refineries and pipel- ines are able to return to service following Harvey. Motor-fuel prices jumped 13.5 percent in New York. Harvey has shuttered about 23 percent of US refining capacity since its first landfall on the Texas coast as a ...

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Vestas expects a rebound in Brazil

Bloomberg Vestas Wind Systems A/S expects demand for wind power to rebound in Brazil, after a slowdown in Latin America’s top market prompted the turbine supplier to focus more attention elsewhere in the region. “I see Brazil coming back in the next year,” said Marco Graziano, president at Vestas Mediterranean. “You’ve got to be patient.” The world’s biggest turbine supplier ...

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Asia VLCC rates continue to sink on tonnage oversupply

Reuters Freight rates for very large crude carriers (VLCCs) on Asian routes continue to sink on a glut of available tonnage as owners wait for supply disruptions caused by Hurricane Harvey to help support the market, brokers said. Charter rates for VLCCs from the Middle East have fallen to around 36 on the Worldscale measure. “In terms of VLCCs we’ve ...

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