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US refinery fire lifts oil prices

Oil markets - Concerns about US petrol supplies
Oil markets - Concerns about US petrol supplies

US crude oil prices rose this evening after a Sunoco refinery fire in Philadelphia added to concerns about US petrol supplies.

The dollar weakened due to data showing US jobless claims rose unexpectedly last week, which helped pull US crude higher.

Sunoco confirmed it had shut a petrol-making fluid catalytic cracking (FCC) unit at its 335,000 barrel per day (bpd) Philadelphia refinery following a small flange fire.

The news came after weekly US government data showed US petrol stockpiles plunged seven million barrels last week, the biggest weekly drop in more than 12 years.

US crude rose 41 cents to $107.52 a barrel, while Brent crude slipped 52 cents to $122.36.