Post Harvey: Crude Climbs As Gasoline Crashes

As refineries along the Gulf Coast started returning to normal
operations after Hurricane Harvey, WTI prices inched up despite a
sluggish trading session yesterday due to Labor Day. At around 9:20
AM CST today, the U.S. benchmark was trading at US$48.65 a barrel,
up 2.88 percent. Brent, on the other hand, was up 1.8 percent to
US$53.28. The biggest storm in more than five decades to hit the
Texas coast took about 20 percent of the country’s refining
capacity offline. As of Sunday, the Wall Street Journal noted,
citing S&P Platts, around…

As refineries along the Gulf Coast started returning to normal
operations after Hurricane Harvey, WTI prices inched up despite a
sluggish trading session yesterday due to Labor Day. At around 9:20
AM CST today, the U.S. benchmark was trading at US$48.65 a barrel,
up 2.88 percent. Brent, on the other hand, was up 1.8 percent to
US$53.28. The biggest storm in more than five decades to hit the
Texas coast took about 20 percent of the country’s refining
capacity offline. As of Sunday, the Wall Street Journal noted,
citing S&P Platts, around…