Sector Snap: Oil refiners rise |
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Fri, 29 Jun 2007 18:25
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NEW YORK (AP) - Shares of oil refiners mostly rose Friday as the price of oil topped $70 a barrel and broader indices also climbed.Light, sweet crude for August delivery on the New York Mercantile Exchange rose 85 cents to $70.42 a barrel after hitting a high of $70.75 earlier in the session.The Amex Oil and Gas Index, which includes 13 refiners and integrated oil companies, rose 21.72 to hit 1,417.69 in midday trading. The Philadelphia Oil Service Sector Index gained 4.75 to reach 266.39 during the same period.In the refining sector, Tesoro Corp. rose 37 cents to $57.56, and Valero Energy Corp. rose 47 cents to $74.08.Philadelphia-based Sunoco Inc. rose $1.08 to $80.30, while Dallas-based Holly Corp. rose 95 cents to $74.55.Marathon Oil Corp. rose 99 cents to $60.73.The only loss across the sector in midday trading was Frontier Oil Corp., which fell 28 cents to $44.15.--------------------Questions or comments about this story should be directed to the Financial News desk of The Associated Press at 212-621-7190.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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