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Crude Oil Rises as U.S., European Refineries Report Incidents »

Posted by: STONERS 2 years, 5 months ago

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Preem Petroleum AB, Sweden's largest oil company, evacuated workers at its refinery in Gothenburg, Sweden, after a fire broke out yesterday. Valero Energy Corp. said yesterday emergency flaring occurred at its refinery in Texas City, Texas, on May 12, at least the third incident at the plant this month.

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Comments: 3

Avg rating: (+4/-0 4)
STONERS
May 14, 2007, 12:26 p.m.
Crude oil for June delivery rose as much as 70 cents, or 1.1 percent, to $63.07 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It traded at $62.96 at 1:49 p.m. in London.
Avg rating: (+7/-0 7)
OldRusty
May 15, 2007, 6:53 a.m.
Just another reason the oil companies will raise gas prices.,(Oh a nat farted) got to raise gas prices. the dam oil companies are ripping off the public. price caps should be placed on each company.
Avg rating: (+7/-1 6)
normallysilent
May 15, 2007, 11:34 a.m.
Maybe I am missing something here but I don't see how a problem at a refinery can raise Crude prices. I mean if a refinery shuts down that reduces demand for the crude the refineries are processing. I can see how it would raise the price of the finished product (GAS) but not the raw material. Sounds like more BS to me.