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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: isopatch who wrote (90488)4/30/2001 10:52:28 AM
From: Jon Cave  Read Replies (1) of 95453
 
Gasoline makes all-time high amid Tosco Ill. f
B: NYMEX OIL: Gasoline makes all-time high amid Tosco Ill. fire

Apr 30, 2001 (FWN Financial via COMTEX) -- By Melanie Lovatt

New York, April 30 (BridgeNews) - NYMEX May gasoline futures soared to yet
another all-time high Monday as yet another refinery problem heightened concerns
supplies will not be sufficient to meet demand for the peak summer driving
season. In the jump, gasoline breezed effortlessly through the record high of
$1.127 it made Friday, to reach $1.155.


* * *

At 1030 ET May gasoline was up 280 points at $1.153, with its strength pushing
up crude and heating oil prices. Jun crude was up 53c at $28.78 per barrel and
May heating oil was up 96 points at 79.70c per gallon.

Brokers said that gasoline was already looking strong, and when the news of a
fire at Tosco's Wood River, Ill., refinery hit the market, it took off.

Tosco was forced to shut one of two crude units at its Wood River for 2-3 weeks
of repair following a fire on Saturday in a pump servicing the complex. The
overall refinery rate of 300,000 barrels per day will be reduced during the
downtime. A local official said that firefighters battled the blaze for over 14
hours (story .14366).



(C) Copyright 2001 FWN

-0-

The bridge.com ID for this story is BRJZWVY
The Bridge ID for this story is 01899


*** end of story ***
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