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Crude prices rally on concerns about U.S. refining capacity |
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10:27, July 07, 2007 |
Crude prices rallied Friday amid concerns about U.S. refining capacity.
Light, sweet crude for August delivery gained 1 dollar to 72.81 dollars a barrel on the New York Mercantile Exchange.
In London, Brent North Sea crude for August delivery gained 87 cents to 75.62 dollars per barrel.
Futures have rallied in recent weeks on concerns about domestic refining capacity, said analysts.
Supplies there have been cut by the flooding and closure of a refinery in Coffeyville, Kansas, that can produce 2.1 million gallons of gasoline per day.
Source: Xinhua
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