Monday, July 9, 2007

West Texas Sour Crude Oil Drops Against WTI on BP Whiting Unit Shutdown

(Bloomberg) -- West Texas Sour crude oil, a high-
sulfur grade delivered at Midland, Texas, weakened against the
U.S. benchmark today on speculation that the shutdown of a crude
unit at BP Plc's Whiting, Indiana, refinery would cut demand.

BP is shutting a 250,000 barrel-a-day crude unit, the
largest of three at Whiting, the biggest refinery in the U.S.
Midwest, a person familiar with the plant's status said today. A
restart date hasn't been determined. A second crude unit, able
to process about 75,000 barrels a day, is also out of service
and may restart at the end of the summer.


Read more at Bloomberg Energy News

No comments: