Oil prices have once again jumped to cross US$52, as refinery problems in the United States, the world's largest energy consumer, stirred up supply worries. Refinery troubles in Kansas, Louisiana, and Texas, could weaken the supply buffer ahead of the summer driving season when demand for gasoline peaks. U.S. light crude spiked up by 4% to settle at US$52.29 a barrel on the New York Mercantile Exchange, and in London, Brent crude rose to US$52.98 a barrel.
OPEC will pump near 25-year highs next month, although it would postpone any formal increase in output limits until a June meeting.
21-Apr-05 
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