Gasoline prices soared to the highest level in 4 months as Hurricane Harvey threatened Texas, the largest oil producer in the US. Crude oil price recovered on Friday as extreme flooding might not only affect refinery capacities but also shale fields. On weekly basis, the front-month WTI crude contract fell -1.32% and the Brent contract was down -0.59%.
Originally posted here:
Weekly Fundamentals – Disastrous Hurricane Harvey Hurt Oil Facilities, Lifting Gasoline Prices
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