Oil prices climb on eve of US inventories report
Afp, London
World oil prices rose on Wednesday when traders geared up for the release of official US data on crude stockpiles just a few days after the start of the summer driving season in the United States. It came as Royal Dutch/Shell confirmed reports that it was forced to shut part of a refinery in the United States on Tuesday after a pipe burst. New York's main contract, light sweet crude for delivery in July, gained 45 cents to 52.42 dollars per barrel in electronic deals. In London, the price of Brent North Sea crude oil for delivery in July advanced 63 cents to 51.36 dollars per barrel. Shell on Tuesday shut two units used to produce gasoline, or petrol, at a refinery in Texas, traders in London said. A spokeswoman for Shell said she was aware of the incident at its Deer Park refinery but was unable to give further detail. "Production is reported as normal so I don't think it's having a great price effect at the moment," a trader at Bache Financial said.
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