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To: patron_anejo_por_favor who wrote (94930)	4/16/2001 9:15:49 PM
From: patron_anejo_por_favor	Respond to of 436258

Yikes! Explosion in a major UK oil export refinery. Got 3 buck a gallon gas this summer? dailynews.yahoo.com Monday April 16 4:07 PM ET Oil Jumps As U.K. Refinery Blast Hits Gas Supply By Andrew Mitchell NEW YORK (Reuters) - Oil prices leaped to a five-week high Monday as a major explosion at a British export refinery deepened concern over the lack of gasoline supply ahead of peak U.S. summer driving demand. May crude oil on the New York Mercantile Exchange raced 54 cents higher to settle at $28.79 a barrel, after a blast ripped through a Conoco (NYSE:COCa - news) oil refinery in northern England, shutting all but two small units. The 200,000 barrel per day plant exports around 60 percent of its production to the giant U.S. market, where gasoline stocks already languish some 5 percent below this time last year. U.S. refineries are already struggling to produce enough of the hi-tech gasoline demanded by environmental legislation, and traders fear further refinery snags will mean a repeat of last summer's record price spike at U.S. pumps. NYMEX gasoline prices jumped 2 cents to $1.04 a gallon on Monday, after hitting their highest level in 9-1/2 months, while heating oil rose 3.8 cents to 81.9 cents a gallon. The looming gasoline shortfall has pulled up crude prices nearly $3.50, or around 14 percent, so far this month, outweighing the threat that a wider economic slowdown could hurt fuel consumption across the globe. With a lack of domestic refinery investment leaving the U.S. reliant on imports, supply worries have already been fueled by an explosion last week a 280,000 bpd Caribbean refinery owned by El Paso Corp.(NYSE:EPG - news) The refinery in Wicklund, Aruba, was restarting some facilities on Monday but a unit that supplies the U.S. with distillate -- including heating oil -- was expected to remain out of action for several months.