Crude ticks up, gasoline drops as refineries get back after Harvey

Crude ticks up, gasoline drops as refineries get back after Harvey

On Tuesday, crude prices ascended because demand picked up and American refineries started resuming operations.

Meanwhile, gasoline futures kept dropping because initial concerns of a serious supply crunch relieved.

October delivery West Texas Intermediate crude futures hit $47.55, soaring 0.5%. On Monday, American crude futures didn’t settle due to the Labor Day holiday in the USA.

Meanwhile, November delivery Brent futures sagged 0.2% in London, being worth $52.25 a barrel.

October delivery gasoline futures lost 1% trading at $1.674 a gallon, which is close to levels observed before storm system Harvey affected the US Gulf coast.

Last Thursday, prices leapt to a two-year maximum of $2.139 on concerns of supply shortages.

Pipelines, crude refineries and shipping channels across Texas and Louisiana started a gradual return of operations after a week ago Harvey impacted the heart of the American energy industry.

Similar

WTI oil: too much for bulls?
WTI oil: too much for bulls?

Oil plunged several percent on Thursday. They say, the bullish rally was just too aggressive. Let's trade the dip then!

Bitcoin crosses $50,000!
Bitcoin crosses $50,000!

Another all-time high has juts been reached by the famous crypto asset. What next? $100,000?

Latest news

All eyes on US retail sales
All eyes on US retail sales

US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar.

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera