Monday, 09 July 2007

Oil Is Steady After Falling From 10-Month High as Refineries Shut Units

(Bloomberg) -- Oil was little changed in New York
after falling from a 10-month high yesterday on signs demand for
crude will decline as U.S. refineries shut units and the end of
the peak demand season for gasoline approaches.

BP Plc is shutting the largest of three crude units at its
Whiting, Indiana, refinery, a person familiar with the plant said.
Units were shut at refineries in Texas and Kansas last week. Oil
rose last week on unrest in Nigeria, Africa's biggest producer.


Read more at Bloomberg Commodities News

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