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November 26, 2009

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Oil, gasoline rise for second day as storm threatens refineries

Thursday, Sept. 22, 2005 | 9:46 a.m.

Crude oil and gasoline rose for a second day as Hurricane Rita, the third-strongest Atlantic storm on record, heads toward Texas and threatens refineries.

The Louisiana Offshore Oil Port, the biggest U.S. petroleum import terminal, stopped unloading tankers as the hurricane moved through the Gulf of Mexico, an official said. Royal Dutch Shell Plc, ConocoPhillips and Valero Energy Corp. are shutting down four refineries near Houston as Rita, a Category 5 storm, is forecast to hit the Texas Saturday.

Crude oil for November delivery rose as much as 98 cents, or 1.5 percent, to $67.78 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It traded at $67.46 at 11 a.m. Singapore time.

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