Brent crude futures advanced $1.14 to $51.25 a barrel on the IPE in London.
"Petrol is up because of the refinery issues in Texas, which means there will be a scramble for product in the (US) Gulf," said Ed Silliere, an analyst at Energy Merchant.
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Crude Hit Its New Peak
Crude oil prices in US jumped to $53 Wednesday as refinery problems
Crude oil prices in US jumped to $53 Wednesday as refinery problems in Texas sent petrol price up an all-time peak.
US light crude futures soared $1.27 to $52.95 a barrel on the NYMEX.
Brent crude futures advanced $1.14 to $51.25 a barrel on the IPE in London.
"This market simply wants to go up," said Kyle Cooper, an analyst with Citigroup Global Markets.
"Petrol is up because of the refinery issues in Texas, which means there will be a scramble for product in the (US) Gulf," said Ed Silliere, an analyst at Energy Merchant.
Brent crude futures advanced $1.14 to $51.25 a barrel on the IPE in London.
"Petrol is up because of the refinery issues in Texas, which means there will be a scramble for product in the (US) Gulf," said Ed Silliere, an analyst at Energy Merchant.
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