Tuesday, July 10, 2007

Oil Trades Near 10-Month High After Gaining on Higher U.S. Gasoline Price

(Bloomberg) -- Crude oil was little changed in New
York, after rising yesterday as gasoline prices climbed on
speculation U.S. output of the fuel may slow due to unplanned
refinery shutdowns.

BP Plc closed the largest of three crude units at its
refinery in Whiting, Indiana, a person familiar with the plant
said July 9. The refinery, the biggest in the Midwest, supplies
consumers in the Chicago area. Refineries in Texas and Kansas
shut units last week. Refinery operating rates rose to 90 percent
of capacity in the week ended June 29 to meet demand.


Read more at Bloomberg Commodities News

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