Oil Surpasses $57 as Refiners May Struggle to Meet Fuel Demand

Crude oil topped $57 a barrel in New York for the first time since April on concern refiners may struggle to meet a fourth-quarter peak in demand for winter fuels.

The U.S. and U.K. shut their missions in Lagos, Nigeria, today after a security threat. The country’s oil is favored for making heating oil and diesel by U.S. refiners that must produce as much as they can to replenish stockpiles. The extra crude that OPEC can pump is of lower-quality grades that aren’t suitable for making these fuels, known as distillates.