Major Oil Refinery To Close In U.S. Virgin Islands

By Jason Bronis & Danica Coto

ST. CROIX, U.S. Virgin Islands (AP) -- One of the world's largest oil refineries will close next month, the company announced Wednesday, stunning nearly 2,000 workers and threatening to upend the reeling economy of the U.S. Virgin Islands.

Industry analysts said the closure is unlikely to have a major effect on the global oil market, but Gov. John de Jongh described the loss of the territory's largest private employer as "a complete body blow" for the U.S. territory of about 108,000 people.