The announcement that a refinery in Kansas will be shut for longer than expected has eased concern that oil supplies at the main U.S. trading and storage hub will sink to minimal operating levels. The plant in Coffeyville may remain idle for four weeks after a July 29 fire, CVR Refining LP (CVRR) Chief Executive Officer Jack Lipinski said yesterday on an earnings call. The 115,000-barrel-a-day plant receives most of its crude from Cushing, Oklahoma , the delivery point for West Texas Intermediate crude futures traded in New York. Supplies at the hub have fallen by more than half this year. “The shutdown will have a noticeable impact on supply at Cushing,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. “Plunging Cushing supplies have been a major supportive factor for WTI. Inventory levels should start to reverse.” WTI for […]