Economic news

Oil prices surge as U.S. refineries resume operations

Oil rose on Wednesday as U.S. Gulf Coast refineries restarted from shutdowns due to Hurricane Harvey.

Brent crude for November delivery advanced 28 cents to $53.66 a barrel. U.S. West Texas Intermediate (WTI) futures increased 15 cents to $48.81.

While most refineries, pipelines and ports are working to restore operations to normal, investors are focusing on another Atlantic hurricane, Irma.

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