Oil spill cleanup could impact prices

Saturday’s oil spill will complicate logistics for some Gulf Coast refineries that rely heavily on the port of Port Arthur for shipments of crude, but it’s unlikely to have much impact on oil and gasoline prices unless the port stays closed for a lengthy period.

That’s because the weak economy has left the U.S. refining industry with a surplus of gasoline and other transportation fuels, as well as ample spare plant capacity, experts said.

Most plants also receive crude via pipeline and have some backup supplies on hand that could hold them over a few days during cleanup.

…Refiners have struggled amid a global economic downturn. In response, U.S. plants have been running near historic lows, and companies have been closing refineries.

The situation will likely help blunt any impact from the spill, analysts said. But the speed of the cleanup will also be a factor on how markets react.