Refinery report fails, international oil price semost

May crude oil futures on the New York Mercantile Exchange closed Friday at $106.23 a barrel, up $2.40 from the previous session, While Brent crude for May on the London Intercontinental Exchange was up $2.38 at $104.90 and May 2 a gallon in New York99.21 cents, or 6.93 cents, rose 6.24 cents, while RBOB gasoline futures rose 3.24 cents to 275.67 cents a gallon, while April diesel futures on the London-based ICE traded at $963.25 a tonne, up $6.50 from the previous sessionU.Snonfarm payrolls fell 80,000 in March, the third straight month of declines and the most since March 2003, the Labor Department said FridayWeak data added to fears of a U.Srecession, sending the dollar weakerInternational oil prices are often inversely proportional to the dollar's trend, as the depreciation of the dollar not only makes oil futures attractive as an investment, but also makes oil prices cheaper for buyers holding other currencies, negatively affects oil producers' revenues and forces them to raise prices"The oil market hasn't followed the fundamentals for a long time," said Tom Bentz, commodity futures analyst at BNP Paribas,The fall in the dollar and the constant influx of money into commodity markets are the main factors driving up oil pricesNew York crude futures for Fridayrose $2.40, or 2.3 percent, to May deliveryThe price of oil rose 0.6 per cent this week and 65 per cent from a year earliergasoline and heating oil futures rose in New York on Friday, with frequent refinery accidents the main reasonFires broke out At Exxon Mobil's refinery in California and at Neste Oil Oyj's refinery in Finland on FridayOn the same day Valero announced the closure of one of its facilities in California, and shell's in-The-Uk refinery reported a failureThe fire at Exxon Mobil's refinery lasted about half an hour, according to police in Torrance, CaliforniaThe fire broke out at 8:30 a.m local time and was extinguished at 9 a.m The refinery has a capacity of 158,000 barrels of crude oil per day "We're in the off-season between the winter heating oil season and the summer driving season, and if the fires occur at other times of the year, the impact will be even greater," said Michael Fitzpatrick, vice president of financial energy risk at the retail price of gasoline also followed the rise in futures prices The average retail price of regular gasoline in the U.S reached $3.303 a gallon on Friday, up 1.4 cents from Thursday, according to the American Automobile Association Opec production fell in March to an estimated 32.35 million bpd, down 0.3 percent from February, the first decline since August, as Production in Nigeria fell to a five-year low, according to a Bloomberg News poll Production in 12 quota countries, excluding Iraq, fell by 30,000 bpd to 29.97 million bpd Nigeria's production fell by 80,000 bpd to 1.96 million bpd, the lowest level since April 2003 OPEC's February production revised up by 160,000 bpd "Despite a slight decline in OPEC production, there is still ample supply of crude oil," said Rick Mueller, an analyst at Energy Security Analytics in , Tilburg, the Netherlands OPEC production is much higher than market demand for THE group, so oil prices are expected to fall in the second quarter OPEC chairman, Mr Kreuer, said a week ago that global oil demand would fall by 1.2 million bpd in the second quarter as the U.S economy slowed It also said OPEC would meet in Rome on April 20th, but no decision was expected to increase production based on the latest news, the group's basket price on April 3rd, calculated by the weighted average price of the 13 members of OPEC, was $98.63 a barrel, up $2.15 from the previous session May crude futures on the New York Mercantile Exchange closed At $106.23 a barrel on Friday, up $2.40 from the previous session, While Brent for May on the London Intercontinental Exchange was up $2.38 at $104.90 and May 2 a gallon in New York 99.21 cents, or 6.93 cents, rose 6.24 cents, while RBOB gasoline futures rose 3.24 cents to 275.67 cents a gallon, while April diesel futures on the London-based ICE traded at $963.25 a tonne, up $6.50 from the previous session U.S nonfarm payrolls fell 80,000 in March, the third straight month of declines and the most since March 2003, the Labor Department said Friday Weak data added to fears of a U.S recession, sending the dollar weaker International oil prices are often inversely proportional to the dollar's trend, as the depreciation of the dollar not only makes oil futures attractive as an investment, but also makes oil prices cheaper for buyers holding other currencies, negatively affects oil producers' revenues and forces them to raise prices "The oil market hasn't followed the fundamentals for a long time," said Tom Bentz, commodity futures analyst at BNP Paribas, The fall in the dollar and the constant influx of money into commodity markets are the main factors driving up oil prices New York crude futures for Friday rose $2.40, or 2.3 percent, to May delivery The price of oil rose 0.6 per cent this week and 65 per cent from a year earlier gasoline and heating oil futures rose in New York on Friday, with frequent refinery accidents the main reason Fires broke out At Exxon Mobil's refinery in California and at Neste Oil Oyj's refinery in Finland on Friday On the same day Valero announced the closure of one of its facilities in California, and shell's in-The-Uk refinery reported a failure The fire at Exxon Mobil's refinery lasted about half an hour, according to police in Torrance, California The fire broke out at 8:30 a.m local time and was extinguished at 9 a.m The refinery has a capacity of 158,000 barrels of crude oil per day "We're in the off-season between the winter heating oil season and the summer driving season, and if the fires occur at other times of the year, the impact will be even greater," said Michael Fitzpatrick, vice president of financial energy risk at the retail price of gasoline also followed the rise in futures prices The average retail price of regular gasoline in the U.S reached $3.303 a gallon on Friday, up 1.4 cents from Thursday, according to the American Automobile Association Opec production fell in March to an estimated 32.35 million bpd, down 0.3 percent from February, the first decline since August, as Production in Nigeria fell to a five-year low, according to a Bloomberg News poll Production in 12 quota countries, excluding Iraq, fell by 30,000 bpd to 29.97 million bpd Nigeria's production fell by 80,000 bpd to 1.96 million bpd, the lowest level since April 2003 OPEC's February production revised up by 160,000 bpd "Despite a slight decline in OPEC production, there is still ample supply of crude oil," said Rick Mueller, an analyst at Energy Security Analytics in , Tilburg, the Netherlands OPEC production is much higher than market demand for THE group, so oil prices are expected to fall in the second quarter OPEC chairman, Mr Kreuer, said a week ago that global oil demand would fall by 1.2 million bpd in the second quarter as the U.S economy slowed It also said OPEC would meet in Rome on April 20th, but no decision was expected to increase production based on the latest news, the group's basket price on April 3rd, calculated by the weighted average price of the 13 members of OPEC, was $98.63 a barrel, up $2.15 from the previous session (name)