Oil Refineries

The United Steelworkers union said Saturday that it would extend by 24 hours talks for a new labor contract for U.S. refinery workers, delaying a possible strike that could affect over half of U.S. refining capacity. "Sufficient progress has been made in our deliberations today to warrant a rolling 24-hour extension at all locations," USW spokeswoman Lynne Baker said in a statement. "Discussions are continuing." A spokesman for lead refiner negotiator Shell Oil Co.

The U.S. 9th Circuit Court of Appeals on Friday revived a class-action lawsuit accusing Arco, Chevron and several other refiners of conspiring to fix gasoline prices during the mid-1990s. But the same panel expressed doubt that the plaintiffs would be able to prove their case. The ruling stems from a suit filed by William O. Gilley on behalf of other wholesale buyers of the cleaner-burning fuel that since 1996 has been required in California.