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robertpaulsen Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-10-05 11:58 AM
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Oil prices leap, outage adds to fears
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Oil prices leap, outage adds to fears


LONDON (Reuters) - Oil prices leapt to more than $53 a barrel on Tuesday after news of a big refinery outage in the United States added to fears about a shortage of refined products and offset the impact of swelling crude supplies.

U.S. light crude was trading $1.02 higher at $53 a barrel. Brent crude oil in London gained $1.07 to $52.36.

News that ConocoPhillips' 250,000 barrels per day refinery in Belle Chasse, Louisiana, was shut down because of a power outage added to the bullish mood. The refinery is one of the largest in the state and has gasoline-making capacity of 104,000 bpd.

U.S. unleaded gasoline, led the gains and was trading 4.27 cents higher at $1.5300 a gallon.

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http://money.iwon.com/ht/nw/bus/20050510/hl_bus-l105148...
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  -Oil prices leap, outage adds to fears robertpaulsen  May-10-05 11:58 AM   #0 
  - A power outage? How conveeeenient  Newsjock   May-10-05 12:04 PM   #1 
  - amusing. Oil is an input to refineries, not a product.  phantom power   May-10-05 12:06 PM   #2 
     - makes sense to me,  Geo55   May-10-05 12:18 PM   #4 
     - It Should Push the Price of CRUDE Oil Down A Little  AndyTiedye   May-10-05 12:48 PM   #6 
     - Exactly!!! These lousy reporters have been failing to point this out  whatelseisnew   May-10-05 02:59 PM   #10 
  - CNN was praising Bush this morning for lowering gas prices  Julius Civitatus   May-10-05 12:10 PM   #3 
  - Then I hope to God they are bashing his brains in  TheFarseer   May-10-05 12:54 PM   #7 
  - Tools. That makes me sick.  robertpaulsen   May-10-05 02:21 PM   #9 
  - Amazing what cranking up little supply fear can do to the markets  indepat   May-10-05 12:32 PM   #5 
  - Like I said, a blip on the radar screen,  cliss   May-10-05 12:56 PM   #8 
  - Do you think ONE * voter will notice that gas has been UP since election?  Skarbrowe   May-10-05 03:01 PM   #11 
  - I remember when brush was appointed president by the  fasttense   May-10-05 03:52 PM   #12 
  - how shallow can they get  gizmo1979   May-10-05 05:14 PM   #13 
  - Yesterday, US gov. said gas prices will fall all May  osaMABUSh   May-10-05 06:11 PM   #14 
     - It is below $2 in Minnesota right now  CatholicEdHead   May-10-05 06:18 PM   #15 
     - In Michigan gas shoots up in the summer to gouge the Tourists.  sarcasmo   May-10-05 07:08 PM   #16 
 

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