Gas & Oil News

Look out gas-pump prices! Crude Oil is on the rise again. Three shots have rang out on the Crude Oil battlefront. First, the refinery fire in India reducing output 110,000 barrels a day (1/6th of the countries total output). Second were the refinery fires at the BP PLC refinery in Texas and a Murphy Oil refinery in Louisiana Thursday. And the Third volley was the death of the king of Saudi Arabia.
Crude Oil jumped to $62.30 a new record then settled at $61.57 up a dollar for the day.
The National Average for Regular Unleaded Gasoline trickled down 3/10's of a cent to $2.283 a gallon.

Oil surges nearer to record:
http://money.cnn.com/2005/08/01/markets/oil.reut/index.htm

Oil prices rise above $US61 after refinery fire:
http://www.smh.com.au/news/business/oil-prices-rise-above-us61-after-refinery-fire/2005/08/01/1122748561816.html?oneclick=true

Refinery fires trigger oil price hike above $60:
http://business.scotsman.com/index.cfm?id=1701542005

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Davitte’ Lanier
Petroleum Industry Analyst