(Bloomberg) -- Crude oil was little changed in New York amid speculation that the repair of a Texas refinery and the closure a pipeline connecting Canada will increase demand for the benchmark U.S. oil grade.
Valero Energy Corp. said yesterday it's beginning to resume output at the McKee refinery near Sunray, Texas. Inventories of West Texas Intermediate oil have surged at Cushing, Oklahoma, because of the closure of the McKee refinery. Prices also rose because Enbridge Inc. shut part of a pipeline that ships oil to the U.S. from Canada on April 15.
Read more at Bloomberg Energy News
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