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US crude jumps 2.9% to three-week closing high of $48.66 as refineries restart after Harvey

September 10, 2017 by Ronjoy Bezbarua

(Source CNBC) Oil and gasoline prices snapped back to levels seen before Hurricane Harvey disrupted about a quarter of U.S. refining capacity, but another incoming storm could cut fuel demand and weigh on prices, analysts said on Tuesday. U.S. West Texas Intermediate crude jumped 2.9 percent, or $1.37, to close at a three-week high of $48.66 as refineries sidelined by Harvey started processing oil into fuels. WTI touched a seven-week closing low of $45.96 last Wednesday. Read full article….

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