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Oil jumps $1.30 on tight gasoline market, refinery news

Part of the story here is gasoline, with prices up 11% on reports that Exxon's massive Beaumont refinery could be down for two weeks.

With Labor Day also coming Monday, demand is also high and as a result, Gas Prices are at a two-year high.

Other Refineries are also shutdown while some are coming back online.

The US is also releasing 500,000 barrels from the SPR, which is bearish but prices are telling a different story.

On the month, WTI is set to fall nearly 7% but prices are up almost 3% today.

READ MORE (ForexLive)

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  • Hurricane Harvey damaged ExxonMobil refineries, causing hazardous pollutants ...Gears Of Biz
  • Harvey Released 2 Million Pounds of Pollutants From Refineries, PlantsDaily Beast

This post first appeared on The 5th News, please read the originial post: here

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Oil jumps $1.30 on tight gasoline market, refinery news


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