Crude Oil Falls From 11-Month High as Refiners Open Plants, Boost Output

(Bloomberg) -- Crude oil fell from an 11-month high
in New York on speculation that U.S. fuel stockpiles will
increase because refineries are opening units.

Exxon Mobil Corp., BP Plc and Valero Energy Corp. started
units at refineries in Texas over the past week. Prices rose 2.2
percent this week after the Energy Department reported that U.S.
fuel stockpiles declined last week as gasoline demand increased.
Total SA said it restored normal output from an oil field in
Angola after cutting production to make repairs.


Read more at Bloomberg Commodities News

Valero Says Oklahoma Refinery Cracking Unit May Restart in 14 to 16 Days

(Bloomberg) -- Valero Energy Corp., the largest
U.S. refiner, said the fluid catalytic cracking unit at its
refinery in Ardmore, Oklahoma, may start up in 14 to 16 days
after shutting last week.

The start date is a preliminary estimate, Valero spokesman
Bill Day said in a telephone interview. The unit, which was
idled for unplanned maintenance, can process 26,000 barrels a
day of partially processed petroleum.


Read more at Bloomberg Energy News

Chittenden, H&R Block, Nuvelo, Spectra, SurModics: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 10:10 a.m. New York time.

Oil Refiners: Citigroup Global Markets Inc. downgraded
shares of Valero Energy Corp. (VLO US), the largest U.S. refiner,
and Tesoro Corp. (TSO US), the largest refiner in the U.S. West,
to ``sell'' from ``hold'' because of valuations. Sunoco Inc. (SUN
US), the biggest refiner in the Northwest, was cut to ``hold''
from ``buy.'' Valero fell $2.61, or 3.5 percent, to $72.05.
Sunoco lost $3.56 to $76.77 and Tesoro retreated $2.80 to $55.11.


Read more at Bloomberg Stocks News

Andrew, BAE, Guitar Center, Sunoco, Valero Energy: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Share prices are as of 8:10 a.m. New York time.

Oil Refiners: Citigroup Global Markets Inc. downgraded
shares of Valero Energy Corp. (VLO US), the largest U.S. refiner,
Sunoco Inc. (SUN US), the biggest refiner in the Northweat, and
Tesoro Corp. (TSO US), the largest refiner in the U.S. West, to
``sell'' from ``hold'' because of valuations. Valero fell $1.06
to $73.60 in trading before U.S. exchanges opened. Sunoco lost 35
cents to $79.98 and Tesoro retreated $1.51 to $56.40.


Read more at Bloomberg Stocks News

Valero Shuts Unit at Its McKee Refinery in Texas for `Unplanned' Repairs

(Bloomberg) -- Valero Energy Corp., the largest
U.S. refiner, said it shut the fluid catalytic cracking unit at
its McKee refinery near Sunray, Texas, for ``unplanned
maintenance.''

The shutdown will have ``no material impact on
production,'' Valero spokesman Bill Day said in an e-mailed
statement.


Read more at Bloomberg Energy News

Oil Rises to $68 on Concern U.S. Refiners Won't Keep Up With Fuel Demand

(Bloomberg) -- Crude oil in New York rose, touching
$68 a barrel, on concern that U.S. refiners will be unable to
keep up with growing gasoline demand.

Valero Energy Corp. shut a unit at its Corpus Christi,
Texas, refinery yesterday, according to a state-administered Web
site. Refineries in the U.S. and Canada have unexpectedly shut
units this spring, paring gasoline production for the peak-demand
driving season. U.S. refineries reduced operating rates the past
three weeks, an Energy Department report on June 13 showed.


Read more at Bloomberg Energy News