Oil

Nymex Crude Oil Declines More Than $2 as High Prices May Cut Fuel Demand Crude oil fell more than $2 a barrel on signs that record prices in the U.S. and subsidy cuts in Asia will prompt consumers to reduce fuel purchases.

U.A.E. Is Prepared to Increase Crude Oil Production, OPEC Governor Says The United Arab Emirates, OPEC's third-largest oil producer, is prepared to raise production if required by the market.

Total Starting Diesel Unit at Dutch Refinery, Following Ineos, Neste Oil Total SA, Europe's third-largest oil company, expects to resume operations at a diesel-making unit at its Vlissingen refinery in the Netherlands today, easing supply constraints that sent fuel prices to a record.

Forties North Sea Crude Oil Jumps to 2-Month High as Statoil Buys Cargo North Sea Forties crude rose to the highest in more than two months after StatoilHydro ASA bought a fifth cargo in two days, potentially cutting supplies of available shipments in June.

Blast at Surgutneftegaz Refinery Kills One Near St. Petersburg, Hurts Four An explosion at a Russian oil refinery early this morning killed at least one worker and injured four more, regional authorities said.

Total Oil Sands Production Delayed by a Year at Joslyn, Globe & Mail Says Total SA's Joslyn mine in Canada will be delayed until 2014 because regulatory hearings on its environmental impact will begin later than expected, the Globe & Mail reported, citing the head of the company's local unit.

Marseille Oil-Port Workers May Strike in Coming Days, Union Official Says Workers at Marseille's oil terminals will probably continue intermittent strike action to protest against planned government changes in port operations, a union representative said.

Lukoil Discovers `Major' Oil Field in the Caspian Sea's Tsentralnaya Area OAO Lukoil, Russia's largest independent crude producer, and state-run OAO Gazprom found a ``major'' oil field after drilling the first exploration well at the Tsentralnaya site in the Caspian Sea.

Ivanhoe Energy Agrees to Buy Talisman Oil-Sands Assets for $107 Million Ivanhoe Energy Inc. agreed to buy oil-sands assets from Talisman Energy Inc. for C$105 million.

Murban Oil Declines as Asian Refiners Seek Other Grades on Freight Costs Abu Dhabi's Murban crude oil fell as refiners sought alternative grades because of the increasing cost of shipping cargoes from the Middle East.