Oil's Post-Harvey Rally Stalls With Refinery Restarts Still Iffy
- Crude demand increases as Texas plants brought back online
- U.S. crude stockpiles rise by the most since March: EIA
How U.S. Weather Impacts Global Oil Markets
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Oil barely budged on Thursday as doubts linger over the restart of refineries that are flickering back to life in the wake of Hurricane Harvey.
Futures ended the session in New York near a four-week high after the resumption of some plants on the Gulf Coast of Texas drove a rally of about 7 percent in four days. While millions of barrels of fuel-making capacity have been restored, the resumption of several key plants is still uncertain. Reaction to a government report showing an anticipated jump in U.S. crude stockpiles was muted.