Oil prices rise after BP explosion
Oil prices rose today amid concerns that the fatal explosion at a BP refinery in Texas would leave the energy industry more overstretched.
A barrel of US light crude for May delivery rose 47c to $54.28 in early trading in the Far East, following the blast which killed at least 14 people and injured more than 100 others.
The cause of the explosion at the refinery – the third-largest in the United States – is not known and BP managers say terrorism is not their main focus.
The refinery produces 30% of BP’s supply of petroleum products in North America, and 3% of the US supply. It processes about 430,000 barrels of crude oil a day.
