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Crude comes in different qualities, and transport costs affect buying decisions.
Crude comes in from the Permian Basin oilfields of West Texas, and gasoline flows out over Holly-owned pipelines to El Paso.
A big portion of this crude comes across the continent to Albany, where it is loaded onto barges for transit south to refineries in Pennsylvania and New Jersey and north to a large refinery in St Johns, New Brunswick.
Similar(54)
But now, analysts said, there is a risk they will return to the 43,000-square-mile region, from which as much as 12 percent of United States crude oil comes, to continue crippling attacks on the oil industry.
In Brazil in particular, crude petroleum comes from a variety of very different oil fields that produce predominantly heavy petroleum.
(Today, 30percentt of America's crude oil comes from the Gulf of Mexico).
Yet even as the oil has continued to gush beneath the gulf, the administration has not been shy about acknowledging the reality that a third of domestically produced crude oil comes from offshore and that undersea reserves will continue to be an important source of American energy for decades.
Brent crude came down from $120 a barrel in August to trade around $110 a barrel towards the end of 2012.
Since then, as Libyan crude came back onto the market and supplies of shale oil from North America expanded by at least 1m b/d, the Saudis have cut output by 700,000 b/d.
As night fell, it was still not clear who was in charge of Ras Lanouf's oil facility, which includes a port and storage facilities for crude coming from fields in the deserts to the south.
"That rally on the 31st didn't have too much behind it so we're seeing crude come back to a level more reflective of the fundamentals," said Toby Hassall, an analyst with Commodity Warrants Australia in Sydney.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com