“The majority of the facility is not affected (by the fire),” he said. “However, the petroleum products portion is shut down currently for precautionary reasons.”   The chemical storage facility is up and running.  
There is no impact on loading docks at the terminal or pipeline operations.  
It is unclear how long the 1-million-bbl products facility would stay shut.  
Traders said that a majority or more than 90% of the storage capacity at the Carteret terminal is used for oil.  
The Carteret terminal has 280 storage tanks, with individual tank capacity ranging from 2,000 to 260,000 bbl.  
The terminal shutdown could have a bullish impact on the products spot market in New York Harbor, depending on the duration of the terminal shutdown and potential supply disruption. Buyers at the terminal would need to cover their requirements at other locations.  
The company is still assessing the damage, and Kinder Morgan has not issued a force majeure on supplies so far.   Some traders said that operations at the terminal have been shut early Monday because of the fire, and supplies from that terminal have been disrupted.  
The Carteret terminal, which serves the New York Harbor market, receives products from Colonial, Harbor and Sunoco pipelines, and it delivers to Buckeye and Colonial pipelines.  
The Kinder Morgan spokesman said there was no damage to the incoming or outgoing pipelines.