Phillips 66 (PSX) yesterday began shutting its 238K bpd Bayway refinery in New Jersey in preparation for Hurricane Sandy, while Philadelphia Energy Solutions (CG, SUN), PBF Energy and Hess Corp (HES) have started to cut output at refineries in the storm's expected path. Phillips 66 has also temporarily shut oil terminals, while pipelines such as Colonial and Buckeye (BPL) have been preparing their contingency plans. Gasoline futures +1% at $2.73 a gallon.
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