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Huge explosion, fire rip Philadelphia Energy Solutions refinery

|About: The United States Natural G... (UNG)|By:, SA News Editor

U.S. gasoline prices move higher following an explosion and massive fire at the Philadelphia Energy Solutions refinery, the largest gas refinery on the east coast.

There are no known casualties at the complex, which employs ~1,000 people.

The crude section at the Girard Point portion of the 335K bbl/day refinery reportedly was shut down due to the fire.

A fire broke out on June 10 at the same refinery, which is believed to have affected a 50K bbl/day catalytic cracking unit.

Philadelphia Energy Solutions was formed in 2012 through a partnership between the Carlyle Group (NASDAQ:CG) and Energy Transfer (NYSE:ET) subsidiary Sunoco Inc.

ETFs: UNG, UGAZ, DGAZ, BOIL, UGA, KOLD, UNL, GAZB

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