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Futures rise to six-week high after refineries shut units

Monday, June 6, 2005 | 9:40 a.m.

Crude oil futures rose to a six-week high in New York, after Exxon Mobil Corp. and Hovensa LLC shut down equipment at two refineries in the United States, heightening concern about gasoline and winter fuel supplies.

Oil gained for the ninth day in 10 after Exxon's Baytown, Texas, refinery, the nation's largest, closed a boiler at a gasoline-making unit on June 2 and Hovensa LLC said it halted processing at a crude-oil unit at St. Croix, U.S. Virgin Islands, for unscheduled maintenance, curbing fuel production.

"Prospects remain worrying for middle distillates: heating oil, diesel, and jet kerosene," Societe Generale SA analysts Frederic Lasserre and Alexandre Kervinio said in a report today.

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