Crude, gasoline drop as Gustav cuts production
China Daily | Updated: 2008-09-02 07:57
Crude oil fell, reversing earlier gains, after Hurricane Gustav weakened, easing concern of widespread damage to drilling rigs and refineries.
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An Exxon Mobil Corp refinery stays in operation in Baton Rouge, Louisiana. At least eight refineries are shutting, taking with them about 1.56 million barrels a day of crude oil processing capacity, or 9.8 percent of the US total. Five more refineries are operating at reduced rates. Bloomberg News |
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