Blast, Fire Shut Down Texas Oil Refinery

Alon USA Energy(ALJ) reportedly has closed its Big Spring, Texas refinery Monday following an explosion and fire -- a disruption that could add to the supply concerns that have helped boost the price of crude oil recently.

A company spokesman said the fire continued to burn at the 67,000-barrel-a-day plant, Reuters reported at 2:15 p.m. EST. The spokesman added that the company had stopped all oil flowing into the refinery and that the company would be able to honor its supply contracts.

The town's mayor said four people were injured in the explosion and fire, although none had life-threatening injuries, Reuters reported.

The mayor also said company officials told him the fire began around 8 a.m. CST (9 a.m. EST) but was brought under control by 11 a.m. CST (12 p.m. EST), according to Reuters. The refinery is located 290 miles west of Dallas.

The cause has yet to be determined, the mayor was reported saying.

Crude oil prices have been rising in recent days on fears that new supply disruptions will emerge, and because of Venezuela's dispute with Exxon Mobil(XOM).

There was no pit trading in New York Monday as markets observed the Presidents Day holiday. But in London, U.S. crude rose 61 cents to $96.11 a barrel by 1812 GMT Monday, Reuters reported. U.S. crude had closed at $95.50 in New York Friday, after breaching the $96 level during the session.

Shares of Alon USA finished Friday's session up 41 cents at $18.24.

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