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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 damages petrochemical refineries, releasing thousands of ...PBS NewsHour
  • Chemical Spills In Houston Caused By Hurricane Harvey — How Many Have There ...CleanTechnica
  • Motiva, Exxon Mobil, Valero, Total cease operationsBeaumont Enterprise
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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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