Oil futures rose in Asian trading on Tuesday, regaining some ground after fresh selling overnight especially in the U.S. WTI, following the disruption caused by Tropical Storm Harvey.
--On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded 0.5% higher at $46.82 a barrel in the Globex electronic session. October Brent crude on London's ICE Futures exchange rose 0.5% to $52.14.
--Nymex gasoline futures for September rose 1.5% at $1.7378 a gallon.
--Hurricane Harvey's impact is bearish for crude oil from a demand perspective, given that some 2 million barrels per day of refining capacity remains shut, says RBC Capital Markets Commodity Strategist Michael Tran.
--While there has been a price spike for refined products, further details surrounding the status of localized refineries will dictate prices going forward, Mr. Tran adds.
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(END) Dow Jones Newswires
August 29, 2017 00:04 ET (04:04 GMT)