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Crude oil prices fell 2 percent on Friday to multi-week lows

stander
stander
in Oil, Gas and Energy News

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NEW YORK, Sept 16 (Reuters) - Crude oil prices fell 2 percent on Friday to multi-week lows as swelling Iranian exports reinforced fears of a global glut, while gasoline rallied on refinery and pipeline outages.

Falling U.S. equity markets and a rising dollar also weighed on crude futures and other commodities denominated in the greenback.

Gasoline rose 2 percent after outages on Colonial Pipeline's main gasoline line and in a key unit of BP Plc's refinery in Whiting, Indiana. The profit for turning crude into gasoline <1RBc1-Clc1> hit three-month highs and pump prices for the fuel rose as well.

http://www.downstreamtoday.com/news/article.aspx?a_id=53553

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