(Bloomberg) -- Crude oil rose amid signs that U.S.
refineries will increase operating rates as they try to replenish
gasoline stockpiles.
Refineries operated at 89.5 percent of capacity last week
the third straight weekly gain, according to the Energy
Department. The profit margin for turning oil into fuels rose to
the highest since at least 1989 yesterday, based on closing
futures prices. Valero Energy Corp., ConocoPhillips and Murphy
Oil Corp. have shut units for repairs this week.
Read more at Bloomberg Energy News
refineries will increase operating rates as they try to replenish
gasoline stockpiles.
Refineries operated at 89.5 percent of capacity last week
the third straight weekly gain, according to the Energy
Department. The profit margin for turning oil into fuels rose to
the highest since at least 1989 yesterday, based on closing
futures prices. Valero Energy Corp., ConocoPhillips and Murphy
Oil Corp. have shut units for repairs this week.
Read more at Bloomberg Energy News
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