Oil Falls on Speculation Refinery Shutdowns Will Reduce Demand in the U.S.

(Bloomberg) -- Crude oil fell for a second day in
New York on speculation U.S. consumption will decline because of
unexpected refinery shutdowns.

BP Plc yesterday was closing the largest of three crude
units at its refinery in Whiting, Indiana, a person familiar
with the plant said. Refineries in Texas and Kansas shut units
last week. U.S. stockpiles in the week ended June 29 were the
highest since 1998, an Energy Department report last week
showed. The department's next report is due tomorrow.


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