11. Domestic demand for crude is low with many U.S. refineries shut down for seasonal maintenance. 12. Even so, traders are betting refineries will be able to make up the deficit after completing seasonal maintenance work in October. 13. In addition, mills often close during July to perform seasonal maintenance work, reducing available supply. 14. In addition, some refineries are starting to reduce operations -- meaning lower crude oil demand -- to perform seasonal maintenance, known as turnaounds. 15. In LONDON, Brent crude oil futures fell as burgeoning supplies in Europe and Africa offset expectations of increased U.S. demand as refiners reopened units shut for seasonal maintenance. 16. Lumber prices fell the daily trading limit as mills that had shut for seasonal maintenance returned to production. 17. Mobil Oil Corp. shut its crude oil unit at its Paulsboro, New Jersey, refinery for seasonal maintenance work, traders said. 18. Next month, some U.S. refineries will slow operations to perform seasonal maintenance, causing demand for crude to decline. 19. Oil prices were also restrained by low U.S. domestic demand for crude oil, as American refiners are in the midst of seasonal maintenance shutdowns. 20. One reason stockpiles rose is that refineries have shut down for seasonal maintenance that was postponed from October in the rush to produce more heating oil. |