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Crude Oil Rises as U.S., European Refineries Report Incidents |
| Home | May 14 (Bloomberg) -- Crude oil gained for a third day after incidents at refineries in Europe and the U.S. raised concern gasoline might run short this summer. 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. ``Gasoline is the key focus,'' said Jonathan Barratt, the managing director of Commodity Broking Services in Sydney. ``The market is surely concerned as we are driving to summer time,'' when demand peaks in the U.S., the world's biggest oil consumer. |