Big Spring Refinery Explosion a Factor in Rising Crude Prices

Staff Report
NewsWest 9

Monday's explosion getting some of the blame for jitters with oil traders.  

Oil prices shot above 100-dollars a barrel for the first time since last month.

Analysts say it's not one single factor driving the price up, but the refinery explosion in Big Spring and the threat that OPEC will cut production are partly being blamed.

The ALON Refinery processes nearly 70-thousand barrels of oil a day.

For right now, the prices at the pump in the Basin hovering around two dollars and 95 cents, but that could change in the next few days.