WFAA-TV

Smoke from Monday's refinery fire in Big Spring could be seen in a large part of West Texas.

NEW YORK — Oil futures prices have shot back above $100 a barrel for the first time since Jan. 3.

A weekend refinery explosion in Texas and the possibility that OPEC will cut production next month are driving prices higher, although analysts say there isn't a single factor to explain the move.

Light, sweet crude for March delivery has risen as high as $100.10 a barrel on the New York Mercantile Exchange.

The refinery in Big Spring, Texas is owned by Alon USA. It processes nearly 70,000 barrels of oil a day.

Officials say it could be closed for as long as two months.

President and CEO Jeff Morris says the refiner should have contingency supply plans in the coming days.

The company doesn’t know what caused the blast, but says it happened near a propylene splitter unit.

The fire is now out and an investigation will begin soon.

All but one of the four workers hurt in Monday’s explosion were released from the hospital Monday.

The company says the fourth employee is being treated for burns and is thought to be in stable condition.