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Bosses at Scotland's only crude oil refinery have started a shutdown after claiming an impending strike will compromise safety.
Ineos said the Grangemouth refinery could shut for "at least a month", and warned of major fuel shortages.
"Fuel shortages are likely to begin in Scotland as early as Friday 25 April and the whole of Scotland could be without fuel for at least a month.
the action would also effectively shut down much of the North Sea's oil and gas production, a large proportion of which goes through Grangemouth, causing supplies to dry up and leading to shortages across Scotland and the north of England.
Oil prices in London and New York have hit fresh record highs on the risk of supply disruptions and signs that Opec is unwilling to raise output further.
US light, sweet crude hit a record high of $117.40 a barrel, while of Brent crude peaked at $114.65 a barrel.
The impending closure of a large oil refinery in Scotland, ahead of strike by workers, and its potential impact on North Sea supplies worried traders.