[dirtboy]

Based upon the rise in price of crude, it looks like your assumption is invalid. The refineries are not buying less but are ensuring supply in the belief that future prices will continue rising.

Either that, or the stated reason has no relevance to the price increase.

If refineries are buying more oil to meet future demand, then the article should state that. But saying that outages at refineries would increase the price of crude oil is absurd on its face. In addition, the refineries have limited storage capacity, so any refinery experiencing an outage can't just stock up on oil while it is down - sooner or later, the tanks are full.

Increase the price of gas, yes. Increase the price of oil, no.

[hubbubhubbub]

Well I can't speak for the quality of the journalism here. After all it is Rooters.

[jec41]

Increase the price of gas, yes. Increase the price of oil, no

We are not the only ones who buy crude and there is heavy demand worldwide. England is no longer a net exporter and is now importing. Indonesia became a importer two years ago and has now stopped buying oil. They have been out of gas for two weeks and the lines at stations reached 11 miles long. Even government vehicles have been out a week.
Japan has raise the temperature for public buildings to 84 degrees and they encouraged businessmen to go casual rather than suits to keep cool. If you goggle up gas shortage, oil price, or peak oil you will find out that some countries have just passed a law to close gas stations at 7:30 pm. India has just lost 40% of there total supply due to a rig and refinery fire. Since these countries can no longer afford the price of crude we are buying the excess, however it is getting more expensive. Several countries in Africa are down to 1 tanker per week. Check out Zimbabwe.