Oil prices rose on Wednesday as more refineries shut down by Hurricane Harvey began to restart.
Refineries were mostly up and running in Corpus Christi, Texas, where Harvey made landfall as a Category 4 hurricane on August 25.
Dozens of refineries were forced to shut operation in the past few days in severe weather. Study showed the hurricane shut down more than 20 percent of U.S. refining capacity and that 16 percent of refining capacity remained offline earlier this week.
Meanwhile, investors kept an eye on the Category-5 Hurricane Irma, which is moving towards the Caribbean and Florida and could knock out other refineries.
The West Texas Intermediate for October Delivery added 0.50 dollar to settle at 49.16 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery gained 0.82 dollar to close at 54.20 dollars a barrel on the London ICE Futures Exchange.
Refineries were mostly up and running in Corpus Christi, Texas, where Harvey made landfall as a Category 4 hurricane on August 25.
Dozens of refineries were forced to shut operation in the past few days in severe weather. Study showed the hurricane shut down more than 20 percent of U.S. refining capacity and that 16 percent of refining capacity remained offline earlier this week.
Meanwhile, investors kept an eye on the Category-5 Hurricane Irma, which is moving towards the Caribbean and Florida and could knock out other refineries.
The West Texas Intermediate for October Delivery added 0.50 dollar to settle at 49.16 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery gained 0.82 dollar to close at 54.20 dollars a barrel on the London ICE Futures Exchange.
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