NYMEX-Crude ends down, cuts losses on Mexican refinery blast
Reuters
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Tue Sep 7, 2010 4:54pm EDT
* Worries over Europe's banks help pressure crude
* Mexican refinery blast lifts RBOB, heating oil
* Coming up: API inventory data Wednesday
NEW YORK, Sept 7 (Reuters) - U.S. crude oil futures fell on
Tuesday amid renewed concerns about Europe's banks and the euro
zone economy that pushed equities lower and helped strengthen
the dollar.
But the day's losses were sharply pared as crude futures
got support from gasoline and heating oil futures, which
rallied following news of an explosion that ripped through a
major Mexican refinery.
The news spurred speculation that the blast could force
Mexico, which already relies on imports to meet more than 40
percent of its domestic gasoline demand, to significantly
increase fuel imports.
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