A massive explosion was reported at the Valero Energy Corp.‘s (NYSE:VLO) oil refinery in Port Arthur, Texas, on Monday.
First Responders are currently at the refinery, working on controlling the fire, as per a report by KFDM.
Shelter-In-Place Order Issued
Sheriff Zena Stephens told KFDM that the explosion involved a heater unit and there are no reported injuries, with all workers accounted for.
The authorities have issued a shelter-in-place order for the west side of Port Arthur, Sabine Pass and Pleasure Island. The police have also closed parts of the highway leading into Port Arthur.
Benzinga has reached out to Valero for a comment.
380,000 Barrels
The Port Arthur oil refinery has a production capacity of 380,000 barrels per day. At the moment, there is no information on whether the production facility was impacted by the fire.
Oil Around $100
The fire comes at a time when Brent Crude Oil is hovering around the $100 mark amid the Iran War, up by around 4%.
While oil prices fell on Monday after President Donald Trump announced that the U.S. would pause power plant strikes against Iran for five days, they were back up during early morning trade in Asia on Tuesday.
Price Action: Valero declined 1.03% during the regular trading session to close at $237.39. It further declined 1.4% during overnight trade amid the fire.
Photo courtesy: Shutterstock AI
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